ST. LOUIS, MO, Aug. 18, 2010—Officials of Fairwood Capital, LLC, a real estate investment firm focused on hospitality assets, today announced that the company acquired the 159-suite Embassy Suites St. Louis–Airport (top left photo) in Missouri from a private investment group for an undisclosed amount. Upon closing, the property will undergo a complete renovation of its guest suites and public areas.
“The Embassy Suites St. Louis-Airport fits our strategy of acquiring premium-branded hotels in proven markets,” said Ed Ansbro, Fairwood’s executive vice president.
“Cash-flowing properties are our primary acquisition targets, but we also seek hotels with turn-around potential that have an appropriate risk/reward profile. This is our first repositioning acquisition in this fund, and we continue to have an aggressive appetite and significant funding available to acquire either individual assets or portfolios.”
The renovation will be completed in phases to minimize guest disruptions. Upon completion of the renovation and repositioning, the hotel will be the newest and only full-service, all-purpose hotel in the market.
Situated at 11237 Lone Eagle Drive, in Bridgeton, Mo., the 159-room Embassy Suites St. Louis-Airport is located off Interstate 70, convenient to Lambert International Airport (middle right photo), and is the closest hotel to Boeing International, the area’s largest employer.
When completed, the two-room suites will offer Embassy Essentials® Bedding Collection, flat-screen, high definition televisions, coffee maker and high-speed wireless Internet access.
Maximum Hospitality, a Memphis, Tenn.-based management company, will assume day-to-day operations. Maximum also manages Embassy Suites-Nashville/Vanderbilt.
Contact:
Ed Ansbro, Tel. 901-842-5307
Jerry Daly (media), (703) 435-6293
Todd Solmson, Tel. 212-277-5608
No comments:
Post a Comment