Waterford Hotel Group, one of Connecticut’s largest hotel owners and operators, has sold a 161-room Courtyard by Marriott in Shelton for $19.2 million.
A Waterford affiliate, Shelton Suites LLC, sold the seven-story hotel at 780 Bridgeport Ave. to Westport investment firm V2 Capital. The sale price is based on $240,000 in state conveyance tax paid in connection with the deal.
According to its website, V2 Capital is a hospitality-focused investment firm that targets hotel properties valued between $15 million and $50 million, primarily in markets with limited new supply. It is led by Raj Patel, state records show.
Waterford Hotel Group had managed the property since 2015 and purchased it in 2019 for $12.1 million, property records show. Waterford also oversaw a $4.1 million renovation completed in 2023. The project upgraded guest rooms, common areas and building systems and converted some rooms for extended stays.
The 3.24-acre property includes 23 suites with full kitchens and 6,300 square feet of meeting and event space.
Waterford Hotel Group has a portfolio of more than 6,200 hotel rooms across nine states.
JLL and Robert Douglas represented Waterford in the sale.
