Waramaug Acquires Two Florida Hotels
Residence Inn by Marriott Port St. Lucie
Waramaug Hospitality announced today the acquisitions of the SpringHill Suites by Marriott Tallahassee Center in Tallahassee, Florida and the Residence Inn by Marriott Port St. Lucie in Port St. Lucie, Florida.
The 4-story, 88-suite SpringHill Suites features studio suites with plush Marriott bedding, dry-bar featuring a microwave and minifridge, separate living area with trundle bed and workspace, flat-screen HDTV, 24-hour business center, 24-hour fitness center, outdoor pool with grilling area, and 635 square feet of meeting space. The property provides easy access to the state Capital, Florida State University, and Florida A&M.
The 6-story, 125-suite Residence Inn features studio or one-bedroom suites with full kitchens complete with refrigerator, stove-top, microwave, and dishwasher plus a living area with sleeper sofa, armchair, flat-screen TV, dinette, and workspace with desk, an ergonomic chair as well as a 24-hour business center, 24-hour fitness center, outdoor swimming pool, patio area and putting green. The property is located near PGA Golf Club, The Landings, First Data Field (home to the St. Lucie Mets, training field for the NY Mets), Super Play, and within walking distance to multiple restaurants.
“Both of these properties fit well into our investment criteria and are each well-positioned in their respective markets near numerous demand generators,” said Craig Nussbaum, Senior Vice President, Waramaug Hospitality. “New management, along with updating the properties will allow us to ensure these properties are best in class in their markets.”
Waramaug is planning a comprehensive renovation of the Residence Inn and a refresh of the SpringHill Suites. Interstate Hotels & Resorts will manage both properties.
Waramaug Hospitality, based in Boca Raton, FL is a privately-held hotel investment manager. Waramaug Hospitality’s portfolio comprises 39 hotels totaling 4,732 rooms. Waramaug focuses on acquiring legacy-branded hospitality assets throughout the United States.
Categories: Development