CHICOPEE, MA (June 25, 2012) – Local and state officials today joined BK Investments, a Chicopee-based developer, as they broke ground for the new Residence Inn by Marriott at Chicopee Crossing.  Located at 500 Memorial Drive, the hotel is owned by BK Investments, will operate as a Marriott franchise, and will be managed by Waterford Hotel Group of Waterford, Connecticut. The Opechee Construction Corporation of Belmont, NH is serving as contractor and architect for the hotel.  The Residence Inn by Marriott Chicopee is slated for a late summer/early fall 2013 opening and will employ approximately 45 full and part time associates.

PeoplesBank of Holyoke is serving as the lead lender for the hotel project.  Additionally, Granite State Development Corp was the Certified Development Company used to secure Small Business Administration financing for the project.

“Today marks a very special occasion and an important step for the Chicopee Crossing development project,” said Dennis Patel, CEO of BK Investments.  “This new hotel would not be possible without the efforts of many, and we are thankful for all the support we have received on the state and local levels, as well as the entire Chicopee community.  We look forward to introducing the new Residence Inn by Marriott next year,” added Patel.

“We welcome our new partners in hospitality as Memorial Drive continues to prove itself to be one of the hottest retail and lodging corridors in the Northeast,” said Chicopee’s Mayor Michael Bissonnette during groundbreaking ceremonies.

Designed to attract extended stay business travelers and corporate and leisure travelers, the Residence Inn Chicopee will offer guests exceptional long-term stays in a comfortable environment. The hotel will include 115 suites, including one and two bedroom suites, all with comfortable and multi-functional living areas. Each suite at the Residence Inn Chicopee will feature a fully-equipped kitchen with full-sized refrigerator, stove, microwave and coffee maker. The hotel will also provide guests free hot daily breakfast as well as free high-speed Internet access in all suites and lobbies. The Residence Inn Chicopee will also offer such amenities as an indoor pool, exercise facilities and business center, as well as private meeting space for events and family gatherings.  Also, the hotel will be utilizing Geothermal Renewable Energy to partially heat hot water.

Waterford Hotel Group will provide management services for the hotel.  “We are proud to be working with the BK Investments team on this exciting project. The new Residence Inn by Marriott at Chicopee Crossing will offer guests a home away from home, while providing modern amenities for both leisure and business travelers to Chicopee,” said Rob Winchester, President and COO of Waterford Hotel Group.

About BK Investments
BK Investments was formed in 2007 by Dennis and Hershal Patel and is primarily a real estate holding company.  They specialize in hotels and currently own and manage a portfolio of three hotels.  The Holiday Inn Express in Brattleboro Vermont, The Hampton Inn in Chicopee and the Days Inn in Chicopee are amongst their current assets.  When the 115 Room Marriott Residence Inn opens BK Investments will have over 100 employees working in the City of Chicopee and 391 total rooms in its portfolio.

About Residence Inn by Marriott
Residence Inn’s mission is to help business travelers thrive on long stays. Combining upscale style and functionality, suites are spacious, allowing travelers the ability to work and relax, maintaining balance while on the road. Featuring full kitchens and separate living and sleeping areas in every suite, Residence Inn offer guests flexibility and options that fit their routine. The associates’ personalized service and attention to detail help guests feel welcomed and appreciated. Connectivity to home and office, health and fitness options, and comfortable public areas to socialize or relax make Residence Inn the ideal choice for both business and leisure guests.

About Waterford Hotel Group
Waterford Hotel Group is one of the nation's leading hotel and convention center management companies. The company operates 30 properties in 9 states, representing nearly 4,000 total rooms.  The collective expertise of the team and track record of success has earned Waterford the distinction as an approved operator for the leading hotel brands. Whether the involvement begins at conception or during operation, Waterford Hotel Group strives for successful performance and profitability of each managed property, while maintaining the highest standards of quality, service, and cleanliness.  For more information, visit www.waterfordhotelgroup.com.