ATLANTA, GA – April 01, 2019 – Hotel Equities (HE), through its affiliate Virtua Partners, has purchased the Fairfield Inn & Suites Colorado Springs North/Air Force Academy. The hotel, located at 15275 Struthers Road in Colorado Springs, is the closest hotel to the U.S. Air Force Academy north entrance. Virtua Credit Corporation arranged the financing for the purchase.
Hotel Equities operates the Marriott hotel and will continue to oversee the asset. The hotel owner, operator and development firm currently manages 30+ Fairfield Inn & Suites and over 120 hotels throughout the U.S. and Canada. HE and Virtua Partners joined forces last year to expand upon their current hospitality portfolio through new development and acquisition opportunities.
“Since assuming management of the asset, Hotel Equities has added significant value through implementation of their proprietary labor models and cost initiatives,” said Quinn Palomino, Principal of Virtua Partners. “Our investment into the property and HE’s management expertise will facilitate optimal performance results and maximum returns for investors.”
“With spectacular views of Pike’s Peak and its close proximity to the U.S. Air Force Academy, the hotel is in an excellent location,” said Brad Rahinsky, President and CEO of Hotel Equities. “We are eager to elevate the property through planned improvements further securing the hotel’s position among the best in the Colorado Springs market.”