Midas Hospitality, LLC to Sell Three Hotels in the Columbus, OH Market for $34M
SAINT LOUIS, MO. June 22, 2015 - Midas Hospitality, a St. Louis-based hotel owner, operator and developer announces the sale of Staybridge Suites - Columbus, OH, Residence Inn by Marriott - Dublin, OH and the Residence Inn by Marriott - Worthington, OH.
An investment group led by Midas Hospitality, LLC purchased the Staybridge Suites - Dublin, OH in December, 2011 and the Residence Inn by Marriott - Worthington, OH in May, 2013, successfully repositioned the assets along with a $2M and $3M renovation respectively. Recently announced, Midas Hospitality completed and opened the Residence Inn by Marriott - Dublin, OH, June 5, 2015.
J. T. Norville, Managing Member, states "Although a very difficult decision to sell these great assets, the successful repositioning of the hotels provided increased asset value, which resulted in a great return to our investment group. This portfolio sale will provide our investors additional opportunity to reinvest in our aggressive asset development pipeline." Midas Hospitality, LLC currently has nine hotels in development including projects in St. Louis, MO, KS, SC and LA, all to open in the next 2 - 15 months.
About Midas Hospitality, LLC
Midas Hospitality, was established in 2006 and quickly became one of the premier hotel management groups in the Midwest. Midas has developed, opened and managed numerous properties, including Residence Inn by Marriott, Courtyard by Marriott, Fairfield Inn & Suites by Marriott, Aloft by Starwood, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites and Hampton Inn among others. Midas Hospitality, LLC is an owner, operator, and developer of hotels with a growing portfolio consisting of 21 hotels, in 10 states serving 6 different global brands. For more information on Midas Hospitality locations and services, please visit www.midashospitality.com
Contact:
Kurt Furlong
kfurlong@midashospitality.com
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 
