Hotels across the country are changing hands, including two properties in Massachusetts’ Berkshire region.
Mission Hill Hospitality acquires two Berkshires hotels
Mission Hill Hospitality, a KSL Capital Partners portfolio company, has acquired the Courtyard by Marriott Lenox and Hampton Inn & Suites Berkshires-Lenox, located in the Berkshire region of Western Massachusetts. These are the 22nd and 23rd hotels added to the Mission Hill Hospitality portfolio since the company launched last year. Terms of the deal are undisclosed.
JLL’s Hotels & Hospitality Group marketed the property on behalf of the seller, Toole Companies.
“The Berkshires are a top drive-to-leisure destination in New England, filled with a rich history and an abundance of attractions bringing in tourists to Lenox year-round,” said Mike Wilbert, managing director, Mission Hill Hospitality. “We are excited about the continued growth of our portfolio as we further expand into New England with these two assets.”
The properties are located near many leisure activities including outdoor recreation, music, arts, and foliage and sightseeing tours. In the spring and summer, Lenox offers options for hiking, kayaking, fishing, golfing, camping and yoga. Winter visitors enjoy skiing at Butternut Basin, Bousquet, Catamount, Jiminy Peak and more. Also in Lenox, the Pleasant Valley Wildlife Sanctuary has 1,000 acres of trails that travel along the slopes of Lenox Mountain.
The 92-key Courtyard by Marriot Lenox was opened in 2017 and features decor inspired by the serene setting. Situated on more than 6.5 acres, the hotel features The Bistro, which includes breakfast and all-day Starbucks coffee service. Other amenities include an outdoor fire pit, picnic and barbeque area, an indoor swimming pool and whirlpool, upgraded complimentary WiFi, a fitness center, a business center, 1,394 sq. ft. of meeting space and an electric car charging station.
The 79-key Hampton Inn & Suites Berkshires-Lenox offers guests a mix of king spa, king and guestrooms and king studio suites, including accessible, connecting and pet-friendly rooms. Amenities include complimentary breakfast, an indoor pool, fitness center, business center and 912 sq. ft. of event space.
The JLL Hotels & Hospitality team working on behalf of the seller was led by Managing Director Alan Suzuki, Director Matthew Enright and Analyst Emily Zhang.
“Recent vintage, select-service hotels in well-located lodging markets in New England continue to be in favor for institutional capital,” said Suzuki. “The highly competitive marketing process highlights the Berkshires as one of the most desirable leisure destinations in the country.”
Churchwick Partners, Rockledge execute purchase of Iowa Woodspring Suites
In conjunction with Churchwick Partners, David Kaye and Joe Listhaus of Rockledge purchased the 122-key Woodspring Suites Davenport Quad Cities in an off-market transaction, adding to their hospitality portfolio.
This marks the 13th extended-stay hotel purchased by the group this year, and its 11th state nationwide. This purchase has pushed the group’s key count to more than 1,600, with reportedly “a few more” in the works for the duration of 2022.
DSH Hotel Advisors facilitates sale of Florida Microtel
DSH Hotel Advisors, a national hotel brokerage and advisory firm headquartered in Tampa—specializing solely in hotel investment sales—arranged the sale of the 68-room Microtel Inn & Suites by Wyndham Spring Hill/Weeki Wachee for an undisclosed price.
DSH represented the seller, S&R Hospitality LLC, and the buyer, Evolve Hospitality LLC. DSH held the exclusive listing with the seller, generating more than 200 signed confidentiality agreements from qualified buyers and receiving more than 20 offers from buyers throughout the country.
“We were able to leverage our substantial network of hotel investors and maximize the sale price of the hotel,” said Dennis S. Hopper, managing principal, DSH. “Generating 20-plus offers is a great signal that our team has substantial presence in the marketplace for this asset class. This hotel acquisition opportunity was highly attractive to investors, and the Florida hotel market is healthy with significant capital ready to be placed in purchasing hotel assets.”