Phoenix American Hospitality Acquires Seven Select-Service Hotels in $109M Transaction
DALLAS, TX. July 18, 2017 - Phoenix American Hospitality, a Dallas-based hotel fund manager, announces the $109M purchase of seven upscale select-service hotels in Arkansas, Louisiana and Florida.
This acquisition of one Hilton and six Marriott properties adds 778 rooms to the Phoenix American Hospitality portfolio. So far in 2017 Phoenix American Hospitality has purchased 13 properties totaling 1532 rooms in nine states. These acquisitions were purchased through a joint venture arrangement with Aspect Investment Partners Ltd.
The newly acquired properties include:
• TownePlace Suites by Marriott Fayetteville North/Springdale
• ALOFT Rogers-Bentonville
• Fairfield Inn & Suites by Marriott Jonesboro
• Courtyard by Marriott Baton Rouge
• Residence Inn by Marriott Baton Rouge
• TownePlace Suites by Marriott New Orleans Metairie
• Hampton Inn & Suites Fort Myers
“Each of these properties is a meaningful addition to our growing portfolio,” said Perch Nelson, President of Phoenix American Hospitality. “We anticipate a strong partnership and long-term success with each property”.
"We are constantly looking for value add opportunities across multiple sectors within the US Real Estate space, and this transaction falls right within our criteria” said Ahmed Farid, President of Aspect Investment Partners.
For more information, please visit www.phoenixamericanhospitality.com, call (214) 750-2967.
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 
