Lodging Dynamics Expands to Montana
Acquires the Award Winning Missoula Courtyard by Marriott
PROVO, Utah, April 28, 2015 /PRNewswire/ -- Lodging Dynamics Hospitality Group (LDHG) announced expansion into the Montana market through the acquisition of the award-winning Missoula, Montana Courtyard by Marriott. The acquisition was completed with the company's affiliate, BN1 Missoula, LLC, managed by Kurt Christensen. The acquisition is a 92 room Courtyard by Marriott, which won the prestigious 2013 Courtyard by Marriott Renovation of the Year award.
This is one of many acquisitions made by LDHG through one of its affiliate equity funds. It is the third in a string of Courtyard by Marriott properties the Company manages including the landmark Courtyard by Marriott in Laie, Hawaii opening this summer and the new Salt Lake City Courtyard by Marriott opening in September.
LDHG owns and operates premium-brand, select-service and extended-stay hotels throughout the United States with hotels as far west as Hawaii and extending to Illinois. This is its first entry into Montana. "This acquisition represents a great opportunity to enter the Montana Market.
Missoula is home to the University of Montana, including its medical school and regional medical center and has a healthy business climate. These and other factors fit our formula for success when evaluating opportunities," commented Joel P. Sybrowsky, President of LDHG.
LDHG has more than two decades of developing, managing, and owning premium-brand, select-service and extended-stay hotels. LDHG has experienced double-digit growth since new management restructured the company in 2008. As part of its growth strategy, the company has created affiliate investment funds to augment its strategy of development and management services through additional hotel acquisitions. "We are pleased investors recognize our value and continue to invest with us. It is satisfying when investors recognize our expertise to maximize a hotel property's value," stated Mr. Sybrowsky.
Hotel industry veteran and Lodging Dynamics Acquisition Consultant, Chris Bills stated, "Lodging Dynamics has put together a first class company in the hotel industry. The Missoula Courtyard by Marriott acquisition is another great move that illustrates the company's discipline and commitment to profitable growth."
The Missoula Courtyard by Marriott represents Lodging Dynamics twentieth hotel acquisition since 2009. Lodging Dynamics has one other acquisition under contract and four hotels under construction.
The off-market Missoula acquisition was represented by Lloyd Farley of Paramount Lodging, Lodging Dynamics buyer's broker in Phoenix with Michael Francis and Wes Christensen of Marcus and Millichap, the Company's buyer's broker in Salt Lake City.
About Lodging Dynamics
Lodging Dynamics, based in Provo, Utah is a multi-award winning owner of premium-brand, select service and extended-stay hotels. Premium brand hotels under management include hotels under the Marriott, Hilton, Hyatt, and IHG brand families. Founded in 1992 after acquiring their own premium-brand, select service properties, LDHG owns and operates hotels throughout the Western United States and has several hotels under construction. www.lodgingdynamics.com.
Contact Information:
Joel Sybrowsky, President & CEO
Office: (801) 919-3419
Email
SOURCE Lodging Dynamics
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