US: Investment firm AWH Partners has acquired the dual-branded Residence Inn and Fairfield Inn & Suites, located in Broomfield, Colorado.
The dual-branded hotel will now be managed by Spire Hospitality, a Dallas-based hospitality management firm and subsidiary of AWH Partners.
Located near the Interlocken Business Park, the property offers 212 keys, laundry facilities, a bar, buffet and to-go dining, meeting space, an outdoor pool and a fitness centre. Residence Inn and Fairfield Inn & Suites are brands under Marriott.
AWH acquired the property at $137,000 per key. The team identified the investment opportunity via the company’s proprietary digital intelligence platform, which is used to pinpoint under-valued hospitality assets.
Chad Cooley, managing partner of AWH Partners, said: “This acquisition is AWH Partner’s most recent investment resulting from our proprietary, best-in-class technology and data platform that will be central to the strategic expansion of our portfolio. The platform analyses third-party and proprietary data to determine transactions that have optimal risk-reward balance for investing and is the linchpin of our strategy to lead a new era in hospitality real estate investment.”
Since its founding in 2010, privately held AWH Partners has invested more than $2 billion in hospitality real estate. Alongside Spire Hospitality, the firm includes real estate development company AWH Development, and is headquartered in New York.
