Waramaug LS Hotels Acquires Two Arkansas Hotels in Partnership with Woodmont Lodging
July 27, 2016 9:22am
July 27, 2016, Boca Raton, FL— Waramaug LS Hotels, a private investment group focused on acquiring legacy branded hotels throughout the United States, announced today the closing of two hotels in a new partnership with Woodmont Lodging. The properties, located in Northwest Arkansas, include the Holiday Inn Express & Suites Bentonville and the Fairfield Inn & Suites Springdale. The partnership will execute a Formula Blue renovation at the 84-key Holiday Inn Express & Suites while the 74-key Fairfield Inn & Suites recently underwent a full renovation. Both properties are supported by strong brands, Marriott and InterContinental Hotels Group, who represent two of the most successful reward and loyalty programs in the industry.
“Woodmont Lodging is looking forward to building on this new partnership with Waramaug. We feel that our combined skills will benefit the two properties immensely and result in increased revenue and overall improved guest experience,” stated Elliott Estes, principal, Woodmont Lodging. “We base our business on providing capital partners with high-quality strategic execution, reported using easily understandable strategic, operational and financial information. We are confident that our ability to deliver in this manner will allow us to be an effective advisor and partner to Waramaug to reach our goals and ultimate ROI.”
“The hotels that are part of this deal have high visibility and easy access from major roadways which is always a great first step. In addition, Bentonville is the corporate headquarters of Walmart while Springdale is the corporate home of Tyson Foods. We feel that speaks highly of the demand driving traffic to our new hotels and the strength in each market,” said Craig Nussbaum, senior vice president, Waramaug LS Hotels. “Both markets also have a strong job creation forecast and consistent economic growth coupled with a limited new supply outlook. All of these factors provide excellent future growth potential for our top-line revenue.”
The Holiday Inn Express & Suites Bentonville is a 4-floor hotel with 84 guest rooms including 52 single-bedded rooms and 32 double-bedded rooms built in 1997. The hotel has 943 square feet of executive meeting space – a 414 square foot board room and a 529 square foot conference room. The space can accommodate groups up to 50 people. Other hotel amenities include a fitness center as well as a business center. The property has easy access from roadways and surrounding areas. It is considered an ideal location half a mile from the Northwest Medical Center as well as in close proximity to Sam’s Club headquarters and Walmart headquarters. With this acquisition, the property will be undergoing a Formula Blue renovation that puts sleep quality, simplicity, and ease of maintenance at the center of its concept.
The recently renovated Fairfield Inn & Suites Springdale is a 74-key hotel with 40 guest rooms and 34 suites. The hotel features a 150-square foot boardroom that can accommodate up to twelve people, brand new 32” LCD TVs in every guest room, as well as a fitness center and an indoor swimming pool and whirlpool. In addition, the Fairfield Inn & Suites Springdale is 15-minute drive to the University of Arkansas. With a student enrollment of over 26,000, this property is a great choice for families and campus visitors seeking suite-style accommodations outside of the city.
Tags: waramaug ls hotels,
holiday inn express & suites bentonville,
fairfield inn & suites springdale
Woodmont Lodging, LLC, based in Bethesda, MD is focused on the acquisition and aggressive asset management of select-service and extended stay hotels. Woodmont acquires hotels that produce a majority of its revenue via guestroom rentals; targets markets with multiple demand generators and barriers to entry; and practices aggressive asset management to ensure optimal revenue performance and stringent expense control. For more information, contact Michael Blank at email@example.com.
Contact: Michael Blank
Waramaug LS Hotels, LLC, based in Boca Raton, FL is a privately held investment group formed in 2013 by Paul Nussbaum, Paul Stern and another senior hotel professional. Waramaug LS Hotels focuses on acquiring legacy branded select service hotels in strong secondary and tertiary markets throughout the United States. For more information, contact Paul Stern at firstname.lastname@example.org.
Contact: Paul Stern
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