Excel Group Acquires the Residence Inn by Marriott Wilmington Downtown in Wilmington, DE
Washington DC-based real estate investment firm Excel Group has announced its recent acquisition of the 96-key Residence Inn Wilmington Downtown located in the heart of downtown Wilmington, DE.
"We are excited to acquire this newly opened hotel in the core of downtown Wilmington - the first new hotel in downtown Wilmington in over 20 years," remarked managing partner Shoham Amin. "This transaction represented a unique opportunity to acquire the only premium-branded extended stay hotel in all of downtown Wilmington. Additionally, this investment aligns with our company's investment strategy of acquiring premium-branded select-service assets in strong high barrier-to-entry urban and secondary markets."
This purchase represents the fourth major transaction for Excel Group this year, representing a total transaction volume of over $100 million.
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 
