Waramaug LS Hotels, LLC Acquires Courtyard Lafayette, Louisiana
September 13, 2013 - Waramaug LS Hotels, LLC, a private investment group and its institutional capital partner, announced today they have acquired the 90-room Courtyard by Marriott Lafayette Airport, in Lafayette, Louisiana. This acquisition follows its recent addition of the Courtyard by Marriott in Paducah, Kentucky and advances the group's plan to deploy $150 million over the next 12 months toward acquiring high quality select service hotels in secondary and tertiary markets.
The Courtyard is located near Lafayette Regional airport and the University of Louisiana's Lafayette campus. It also offers convenient access to the Cajundome, a multi-purpose facility, which showcases concert, family shows, sporting events and conventions.
“The acquisition of this property continues our strategy to acquire well located assets positioned to be market leaders,” said Paul Nussbaum, Waramaug LS Hotel's Founder and Managing Partner. “We continue to field a robust pipeline of acquisition opportunities.”
The Courtyard by Marriott Lafayette Airport has recently undergone a $1.8 million renovation. Waramaug will complete the renovation with an additional $1 million investment. Waramaug has appointed Interstate Hotels & Resorts to manage the hotel.
About Waramaug LS Hotels
Waramaug LS Hotels, LLC, based in Boca Raton, FL is a privately held investment group formed in 2013 by Paul Nussbaum, Paul Stern and other senior hotel professionals. Its affiliates have recently acquired four other hotels. With this acquisition, Waramaug LS Hotels and affiliates' select service holdings comprise six hotels totaling 700 rooms.
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 
