Waramaug buys brace of Florida extended stay hotels

George Sell George Sell Uploaded 03 September 2019

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US: Waramaug Hospitality has acquired the SpringHill Suites by Marriott Tallahassee Center and the Residence Inn by Marriott Port St. Lucie.

The four-storey 88-suite SpringHill Suites features a 24-hour business centre, 24-hour fitness centre, outdoor pool with grilling area, and 635 square feet of meeting space. The property provides easy access to the state Capital, Florida State University, and Florida A&M.

The six-storey 125-suite Residence Inn features studio or one-bedroom suites with full kitchens, business centre, 24-hour fitness centre, outdoor swimming pool, patio area and putting green. The property is located near PGA Golf Club, The Landings, First Data Field (home to the St. Lucie Mets, training field for the NY Mets), Super Play, and within walking distance to multiple restaurants.

“Both of these properties fit well into our investment criteria and are each well-positioned in their respective markets near numerous demand generators,” said Craig Nussbaum, senior vice president, Waramaug Hospitality. “New management, along with updating the properties will allow us to ensure these properties are best in class in their markets.”

Waramaug is planning a comprehensive renovation of the Residence Inn and a refresh of the SpringHill Suites. Interstate Hotels & Resorts will manage both properties.

Waramaug, based in Boca Raton, FL is a privately-held hotel investment manager. Its portfolio comprises 39 hotels totaling 4,732 rooms. Waramaug focuses on acquiring legacy-branded hospitality assets throughout the United States.

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