New Generation Acquires Somerset Hills Portfolio
APRIL 10, 2007. New Generation Hospitality (NGH) announced today that it has completed the acquisition of the Somerset Hills Hotel in Warren, NJ and the Inn at Somerset Hills in Basking Ridge, NJ. In addition to this acquisition, NGH also acquired the Four Points by Sheraton Hotel and Suites Allentown Jetport, Allentown Pa. at the Lehigh Valley Airport.
"We are very excited to acquire these prestigious hotels in such high barrier to entry markets," said Sujal Mehta, CEO, NGH. "The Somerset Hills hotels in particular are located in a dense corporate community comprised of major Fortune 50 companies and in the heart of the nation's pharmaceutical sector. We intend to renovate and improve these hotels to better serve the corporate and leisure traveler and provide memorable guest experiences," continued Mehta. As part of NGH's plan, the company will seek to brand the Inn at Somerset Hills as a Hotel Indigo, the exciting new boutique concept initiated by IHG, which is geared specifically toward providing guests with an enhanced hotel experience.
"These hotels have a tremendous amount of history and charm. We believe that these hotels will prove to be the cornerstone of the future of our development" said Ashok Dhabuwala, Chairman, NGH.
The Somerset Hills Hotel contains 111 well-equipped guestrooms including two king suites and one Grand Suite, 7000 square feet of meeting space and the very popular Tap Room Restaurant and Bar. The Inn at Somerset Hills contains 112 guestrooms including three Junior Suites, and three King Suites, 2,500 square feet of meeting space as well as the Dead River Pub.
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