Ultima Hospitality Acquires the 202-room Boston Marlborough Courtyard by Marriott

Plans Renovation

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. July 01, 2013

CHICAGO, IL - July 1, 2013 - Ultima Hospitality, an industry-leading investment and hotel management company, announces the purchase, renovation and management of the Boston Marlborough Courtyard by Marriott. Located in the heart of Central Massachusetts, the 202-room hotel will undergo $2 million dollars in improvements including a redesign of meeting space, which will complement the recent renovation of the lobby, guestrooms, restaurant and public space.

"The Greater Boston market is an area we have been, and remain focused on as a result of its existing demand and infrastructure, as well as its near and long-term growth potential," said Nir Liebling, chief investment officer, Ultima Hospitality. "The ability to acquire an institutional-grade asset within a growing submarket of one of the strongest metropolitan areas in the country is something that we are very excited about."

A great amenity for this particular Courtyard hotel is 8,000 square feet of meeting space comprised of 14 meeting and banquet rooms accommodating up to 400 people. The hotel also offers the Courtyard Bistro, serving breakfast daily and dinner from 5 p.m.-11 p.m. With an indoor pool and a state-of-the-art, 5,185 square-foot health club named New Life Health and Wellness featuring free weights, Life Fitness cardio equipment and various instructor-led fitness classes, guests of the Boston Marlborough Courtyard by Marriott have a number of healthy lifestyle offerings from which to choose.

"This hotel is attractive due to strong Boston and suburban market fundamentals, driven by transient appetite and favorable group demand," said Mark Zettl, chief operating officer, Ultima Hospitality. "Further, the strength of Boston's convention calendar, in turn, enhances the surrounding submarkets' values and fundamentals. The Marlborough market also has several improving dynamics, including current and future corporate demand growth via local market expansion of a number of national corporations, including TJX, Boston Scientific and Quest Diagnostics."

Situated conveniently between Boston and Worcester, Boston Marlborough Courtyard by Marriott is just minutes away from many popular attractions and provides a complimentary shuttle to any destination within a five mile radius.

The hotel is owned and operated by Ultima Hospitality under a long-term Marriott franchise agreement. Reservations can be made by calling (800) 321-2211 or by visiting www.Marriott.com/bosmd.

Courtyard by Marriott hotels participate in the award-winning Marriott Rewards frequent travel program that allows members to earn hotel points or airline miles for every dollar spent during each stay. For more information, visit www.marriottrewards.com.

About Ultima Hospitality

Ultima Hospitality is a Chicago-based hospitality management and real estate investment group. As the management arm of Waterton Commercial Properties, Ultima Hospitality manages both full and select-service properties leveraging more than 150 years of experience in hospitality and commercial real estate management among its senior leadership. A results-driven organization, Ultima Hospitality provides owners and investors with superior capital management, cost containment and extensive resources to ensure successful ownership and management in a constantly changing business environment. For a complete list of the company's portfolio along with more information, visit www.ultimahospitality.com.