Siegel Group buys Albuquerque property for extended stay portfolio

George Sell By George Sell
30 November 2017 | Updated 30 November 2017

US: The Siegel Group Nevada, Inc., has acquired a 244-unit hotel property in Albuquerque, New Mexico, for $4 million.

The property was previously operated under both the Travelodge and Super 8 motel brands, and will now be converted to the Siegel Suites Select extended stay brand.

This acquisition takes the number of Siegel Suites and Siegel Suites Select properties throughout the south-western United States to 42 and marks the second location the company has opened in Albuquerque since first entering the market in mid-2015.

The Siegel Group will operate the property under its new extended-stay brand, Siegel Suites Select, as Siegel Suites Select Albuquerque. the company will be adding a pool to the location as well as installing high-speed Wi-Fi, adding kitchenettes and flat screen televisions to all units and upgrading the existing furniture packages.

Stephen Siegel, president of The Siegel Group, said: "We are excited to expand our presence in New Mexico and introduce our newest brand, Siegel Suites Select, to the Albuquerque market. We opened our first branded location in Albuquerque approximately two years ago which has been a success. We're confident our Select brand will be just as successful."

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