Mission Hill Hospitality, a KSL Capital Partners portfolio company, has acquired the Hanover Lebanon Courtyard by Marriott, a 124-key property located in Lebanon, NH. This is the company’s first investment in New Hampshire and its seventh in New England.
The property is the 25th hotel added to the Mission Hill Hospitality portfolio since the company was launched in March 2021. Terms of the deal were undisclosed.
“This acquisition supports our continued growth strategy of investing in premium-branded, select-service hotels located in diversified markets, particularly those driven by education, medical, corporate and leisure demand,” said Mike Wilbert, managing director, Mission Hill Hospitality. “The Lebanon area is experiencing significant growth and development, and this asset is well positioned to meet expanding needs.”
Originally developed in 2006, the property will undergo a complete renovation of guestrooms and public space. Amenities include an indoor pool, whirlpool, well-equipped fitness center, a 24-hour business center and 2,500 sq. ft. of meeting space.
The hotel is close to both Dartmouth College, located less than three miles away, and the Dartmouth Hitchcock Medical Center, located across the street. Both are currently undergoing substantial expansion projects. Top corporate employers with offices nearby include Novo Nordisk, Siemens and TomTom.
Also nearby are the Lebanon Opera House and the Montshire Museum of Science. It is located seven miles from the White River Junction Amtrak station and four miles from the Lebanon Municipal Airport.