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New acquisition on the American market

1 min reading time

Published on 28/07/15 - Updated on 29/06/23

Residence Inn de Baltimore

Summit Hotel Properties announced the acquisition of two Residence Inn by Marriott properties in the United States for 56.8 million dollars.

Summit Hotel Properties continues to buy. The investor got hold of two Residence Inn by Marriott properties in the United States for a total of 56.8 million dollars (close to 51 million euros). They are the Residence Inn Baltimore, for 31.1 million dollars, and the Residence Inn Branchburg, for 25.7 million dollars.

Located in Hunt Valley, the Residence Inn in Baltimore has 140 rooms and will be managed under contract by Interstate Hotels & Resorts. The company plans to invest and additional 1.5 million dollars in the property by 2016. The Residence Inn Branchburg has 101 rooms. Its management will also be handled by Interstate Hotels & Resorts, through a management contract. An additional 1.1 million dollars will be invested in the property.

As of January 1, 2015, Marriott International was number three worldwide in terms of number of rooms with 701,899 units in 4,117 properties according to MKG Hospitality, consulting firm founded by Georges Panayotis. (Read our report)

Marriott International

Marriott International

Hotel Group

  • Marriott International United-States
  • Offres d'emplois 77 currents job offers
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