Atlanta Hotel Group acquires West Lafayette Hilton

(photo courtesy of Hilton Garden Inn West Lafayette Wabash Landing)

The Hilton Garden Inn West Lafayette Wabash Landing has been acquired by Atlanta-based Peachtree Hotel Group. The West Lafayette Hotel is part of a seven-hotel acquisition valued at $135 million.

The acquisition totals 829 rooms and includes six Hilton hotels and one Marriott hotel. Peachtree says all hotels will be operated by its hotel management division.

“These acquisitions are complementary to our existing portfolio of high-quality, well-located assets with strong demand drivers,” said Brian Waldman, executive vice president of investments at Peachtree. “We saw an uptick in the second half of 2021 for hotel acquisition opportunities, and these seven properties continue our strategy to benefit from the ongoing recovery in the hospitality industry. he hospitality industry is in a cycle of sustained recovery, which is strengthening hotel fundamentals. We continue to believe that hotels, which are an effective investment to hedge inflation, will remain among the strongest real estate sectors to invest in. .

In addition to the 104-room Hilton Garden Inn West Lafayette Wabash Landing, acquired properties include:

  • 228-room dual lodge hotel – 120-room Hilton Garden Inn Phoenix Tempe, University Research Park and 108-room Home2 Suites by Hilton Phoenix Tempe, University Research Park in Tempe, Arizona, which were built in 2017.
  • 137-room Aloft Hillsboro-Beaverton in Hillsboro, Oregon, which was built in 2017
  • The 121-room Hilton Garden Inn Casper in Casper, Wyoming, which was built in 2008.
  • 120-room Home2 Suites by Hilton Eugene Downtown University Area in Eugene, Oregon, which was built in 2016
  • 119-room Home2 Suites by Hilton Pittsburgh/McCandless in Pittsburgh, Pennsylvania, which was built in 2013.

“We are excited to add these hotels to our portfolio, furthering our growth and footprint across the country,” said Patrick Short, president of Peachtree Hospitality Management. “These hotels offer exceptional opportunities for added operational value for potentially reduced expenses and increased efficiency through our takeover of property management.”

Peachtree says the acquisitions bring the total number of managed hotels to more than 80 in 18 states.

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