Arbor Lodging Partners Acquires Fairfield Inn & Suites Milwaukee Downtown in the Historic Straus Building
MILWAUKEE, Oct. 31, 2016 /PRNewswire/ -- Arbor Lodging Partners ("Arbor"), a leading fully integrated owner and operator of hotels nationwide, announced today that, through an affiliate, it has acquired the Fairfield Inn & Suites Milwaukee Downtown, a 103-room select-service hotel, located at 710 N. Old World Third Street. NVN Hotels will manage the hotel, effective immediately, and will make improvements to the hotel, maintaining its affiliation with Marriott's "Fairfield Inn & Suites" flag. Located in the 1924 Straus Building in Milwaukee's flourishing central business district, the property is on the National Register of Historic Places kept by the U.S. Department of the Interior.
The acquisition marks Arbor's entry into downtown Milwaukee, where an urban revival has attracted significant corporate and residential development over the past decade. The hotel is located steps from the Milwaukee Art Museum, BMO/Harris Bradley Center, major corporate offices, and a bustling dining and entertainment district.
"We're pleased to join the downtown Milwaukee community, which has shown significant population and development growth over the past decade that outpaces other cities of its size," commented Vamsi Bonthala, CEO of Arbor Lodging Partners. "This acquisition is a good strategic fit, fulfilling our interest in both yield-driven investments in high-potential markets and unique and historic restoration opportunities."
"We're pleased to strengthen our relationship with the Marriott family of brands with this acquisition," added Sheenal Patel, CEO of NVN Hotels. "We'll continue to offer travelers visiting Milwaukee the high level of service they can always expect from the Marriott brand."
Fairfield Inn & Suites Downtown Milwaukee features contemporary accommodations and a stylish urban warehouse lobby reminiscent of Milwaukee's yesteryear. All guest rooms are equipped with complimentary high-speed Internet and a refrigerator; additionally, the suites provide more space along with the convenience of a microwave and other upgraded amenities. Guests also have access to a complimentary hot breakfast buffet. The hotel most recently underwent a major renovation completed in 2013, and Arbor plans to refresh guest rooms and make updates to the building's historic façade.
About Arbor Lodging Partners
Arbor Lodging Partners is a Chicago-based national owner and operator of hotels. The company was founded in 2005 with the goal of uniting the best practices of enterprising hotel operators and sophisticated institutional investors to effectively underwrite and execute investments in the lodging space. Arbor Lodging Partners makes investments in hotels, acquires loans secured by hotels, and, through an affiliate, manages operations for its own hotels and those owned by third-parties. To learn more about Arbor Lodging Partners visit http://www.arborlodging.com.
About NVN Hotels
NVN Hotels is a leading hotel management company providing owners and asset managers with a range of services for their operational needs. Recently designated one of the nation's top hotel companies of 2015 by Hotel Management Magazine, the NVN Hotels team has a long history of providing strong leadership for hotel operations and a reputation for presenting innovative solutions for the many challenges faced by hotels. To learn more about NVN Hotels, visit http://www.nvnhotels.com.
Media Contact:
Patricia Agos, [email protected] or 773-758-5044
Photo- http://photos.prnewswire.com/prnh/20161028/433965
SOURCE Arbor Lodging Partners
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