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Midas Hospitality, LLC Acquires the Courtyard by Marriott - Clemson, SC
ST LOUIS, MO, Mar 14, 2016-An investment group led by Midas Hospitality, LLC has acquired the 110-room Courtyard by Marriott-Clemson, SC for $16.5M. St. Louis-based hotel owner, operator and developer, Midas Hospitality, LLC will manage the asset
By: Midas Hospitlality, LLC
Robert Willard, President & Principal, Midas Hospitality, LLC states, "we are acquiring an award winning hotel with service delivery in the top 5% of the Courtyard by Marriott brand. The addition of the Courtyard by Marriott - Clemson, SC to the Midas hotel portfolio in the southeast, further reinforces our aggressive, yet strategic, company growth in this area. It is every exciting to add our first Courtyard by Marriott to our hotel portfolio. The hotel will undergo a $1.5M PIP in the next 12-months". Financing for the acquisition was led by Cass Commercial Bank with a participation from Parkside Financial Bank & Trust.
The Courtyard by Marriott - Clemson, SC will make the third Marriott product within the 22-hotel Midas portfolio. Adding to the portfolio, Midas Hospitality, LLC recently acquired the Holiday Inn Express - Champaign, IL, the Holiday Inn Express - Sikeston, MO, opened the Hampton Inn - Poplar Bluff, MO and is developing a Hampton Inn - Wentzville, MO, a Courtyard by Marriott - St. Louis / St. Peters, MO, a SpringHill Suites - Lenexa, KS, a dual-branded Residence Inn / Fairfield Inn by Marriott - Charlotte Airport, NC, a dual-branded Residence Inn / Fairfield Inn & Suites - St. Louis / Westport Plaza, and a Staybridge Suites - St. Louis / Westport Plaza, all to open in the next 12-months.
Kurt Furlong, EVP & Principal - Sales & Marketing, states, "The Courtyard by Marriott - Clemson, SC is a terrific asset, in a great location, backed by one of the best brands in the industry." Furlong added "With our extensive pipeline of Marriott assets, the Courtyard by Marriott - Clemson, SC will make a great addition to our growing Midas Hospitality family."
About Midas Hospitality, LLC
Midas Hospitality, was established in 2006 and quickly became one of the premier hotel management groups in the Midwest. Midas Hospitality, LLC has developed, opened and managed numerous properties, including Residence Inn by Marriott, Courtyard by Marriott, Fairfield Inn & Suites by Marriott, Aloft by Starwood, Hilton Garden Inn by Hilton, Hampton Inn by Hilton, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites among others.
Midas Hospitality, LLC is an owner, operator, and developer of hotels with a growing portfolio consisting of 22 hotels, in 11 states serving 6 different global brands. For more information on Midas Hospitality locations and services, please visit www.midashospitality.com, Twitter @MIDASHOTELS and www.facebook.com/
About Courtyard by Marriott
The Courtyard by Marriott brand features hotels with a refreshing environment that helps guests stay connected, productive and balanced while traveling. Intuitive services and design accommodate guests' desire for choice and control and allow them to use the public space and guest rooms to meet all of their needs while on the road. With more than 1,000 locations in 38 countries, Courtyard has more locations than any other Marriott International brand.
Midas Hospitality, LLC