A Chicago hotel investment and management firm has acquired a 12-hotel portfolio that includes properties in Wallingford, Farmington and Rocky Hill.
Arbor Lodging Partners says its latest buying spree adds Farmington’s Courtyard by Marriott, Rocky Hill’s Residence Inn by Marriott and Wallingford’s Homewood Suites by Hilton to its now 37-hotel portfolio.
The deal also included several hotels in California and New Jersey. Financial terms were not disclosed.
The Chicago firm will now begin renovations at each of its new properties, making upgrades to guestrooms, guest bathrooms, lobbies, common areas, meeting spaces and food and beverage outlets, officials say.
“We are thrilled to have added 12 diverse and unique properties with industry-leading franchise affiliations to our portfolio in several key markets,” said Arbor Lodging CEO Vamsi Bonthala.
Following the deal, Arbor Lodging said its hotels will be managed by affiliate Arbor Lodging Management.
Founded in 2006, Arbor Lodging operates 37 full-service hotels in the U.S. comprised of nearly 5,000 rooms across 15 states.
