Waramaug LS Hotels Completes Renovations of Extended Stay Portfolio Including Three SpringHill Suites and Seven TownPlace Suites
BOCA RATON, FL. June 8, 2017— Waramaug LS Hotels LLC (or Waramaug), a private investment group, has completed extensive renovations of a portfolio of extended-stay hotels. The properties are located throughout the strategic submarkets of Minneapolis, Milwaukee and Detroit with three SpringHill Suites by Marriott and seven TownPlace Suites by Marriott totaling ten properties and 1,103 rooms. The portfolio is owned by a partnership with Waramaug, Interstate Hotels & Resorts, and Gatehouse Capital, an advisory client of Arch Street Capital Advisors, LLC. Gatehouse Capital is a part of the larger Gatehouse Financial Group, Ltd. The hotels are operated by Interstate Hotels & Resorts.
The portfolio includes the SpringHill Suites by Marriott Minneapolis Eden Prairie, Eden Prairie, Minn.; SpringHill Suites by Marriott Minneapolis St. Paul Airport/Eagan, Eagan, Minn.; SpringHill Suites by Marriott Minneapolis West/St. Louis Park; St. Louis Park, Minn.; TownePlace Suites by Marriott, Detroit Dearborn, Dearborn, Minn.; TownePlace Suites by Marriott Detroit Livonia, Livonia, Minn.; TownePlace Suites by Marriott Detroit Sterling Heights, Sterling Heights, Minn.; TownePlace Suites by Marriott Milwaukee Brookfield, Brookfield, Wis.; TownePlace Suites by Marriott Eden Prairie, Eden Prairie, Minn.; TownePlace Suites by Marriott Minneapolis St. Paul Airport/Eagan, Eagan, Minn.; TownePlace Suites by Marriott Minneapolis West/St. Louis Park, St. Louis, Park, Minn.
The renovations began shortly after purchase and included the complete renovation of all guest rooms and corridors, including all new finishes and case goods, all bathrooms and the expansion and replacement of all equipment in the exercise room.
"These newly renovated properties are now able to be more competitive and outperform their competition," said Paul Nussbaum, Founder, and Chairman, Waramaug Hospitality. "We are confident they will enjoy continued rate and occupancy growth to maximize our investment returns, and all the properties are now on pace to reach their budgeted goals and exceed guest expectations in their respective markets.
"This was an intensive undertaking by our team," said Jay Litt, Principal, The Litt Group. "We renovated ten assets in a 15-month timeframe during a Mid-West winter."
About Waramaug LS Hotels
Waramaug LS Hotels LLC is based in Boca Raton, Florida, and is a privately held investment group that was formed in 2013 by Paul Nussbaum, Paul Stern, and another senior hotel professional. Waramaug LS Hotels focuses on acquiring legacy branded select-service hotels in strong secondary and tertiary markets throughout the United States. For more information, contact Paul Stern at info@waramaughospitality.com.
Contact:
Paul Stern
info@waramaughospitality.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 
