RockBridge Makes $8.6 Million Investment in Maryland Hotel
RockBridge Announces First Mortage Investment in Maryland Hotel
Baltimore, MD - November 12, 2012 - RockBridge today announced the closing of an $8.6 million first mortgage investment to finance the acquisition of the 137-room Comfort Suites Hotel at Baltimore-Washington International Airport (BWI) in Linthicum Heights, Maryland. James T. Merkel, President and CEO of RockBridge, made the announcement.
The property will undergo a $3.4 million renovation and be reintroduced to the market as a Holiday Inn. The comprehensive renovation and conversion will significantly upgrade the hotel, including a reconfigured lobby, an exterior refresh, and substantially upgraded guestrooms. The improvements are expected to be completed in mid-2013.
The hotel enjoys one of the best locations in the market, conveniently located only two miles from BWI airport and offering easy access to both I-195 and Route 295. BWI is a strong demand generator and 2011 was a record year for passenger volume.
RockBridge is an integrated hotel investment firm that has executed on over 300 hotel investments in the U.S. over the past two decades. Since 1992, RockBridge's team has invested nearly $3 billion in the hospitality industry as part of approximately $5 billion of total transaction capitalization. The principals of RockBridge have formed and managed nine hospitality-focused debt and equity investment funds across multiple platforms with predominantly institutional investors. For additional information about RockBridge, visit www.rockbridgecapital.com.
CONTACT:
Paul Kesman
(248) 321-2035
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
