US: Mission Hill Hospitality has acquired two more extended stay hotels
Mission Hill Hospitality, a KSL Capital Partners portfolio company, which launched last year, has acquired its 17th and 18th hotels.
The Marriott Residence Inn and Fairfield Inn and Suites Boston Waltham will be operated by third-party management company Island Hospitality, on behalf of Mission Hill Hospitality.
“We are very pleased to acquire recently built hotels of such high caliber, affiliated with industry-leading Marriott brands. The Boston-area biosciences and technology sectors are rapidly growing, and we are excited to expand our portfolio with an investment in this area,” Mark Fraioli, managing director, Mission Hill Hospitality told Hospitality Net.
Gregg Forde, COO, Island Hospitality Management said: “With our specialisation in operating extended stay hotels and our deep experience in the New England market, we are uniquely prepared to hit the ground running to continue driving improvements to the profitability of the Residence Inn and Fairfield Inn & Suites Boston Waltham.”
The five-story Residence Inn and Fairfield Inn and Suites Boston Waltham was built in 2018 as a dual-branded hotel. Residence Inn features king studios with kitchens and workspaces. Fairfield Inn and Suites has king and queen rooms as well as one-bedroom suites. Communal areas include a large lobby and bar as well as a swimming pool.
Waltham, 10 miles west of Boston, is a key market for bioscience and technology and has a vibrant student population being the location of Brandeis and Bentley Universities.
Other extended stay properties in the Greater Boston area include Residence Inn by Marriott in Natick, Massachusetts, which opened in 2019.
