• Arbor Lodging Partners Acquires $135 Million Portfolio

     
    POSTED April 22, 2019
     
  • Arbor Lodging Partners Acquires $135 Million Portfolio

     
    POSTED April 22, 2019
     
  • Arbor Lodging Partners Acquires $135 Million Portfolio

     
    POSTED April 22, 2019
     

Arbor Lodging Partners, Chicago-based hotel investment and management company, announced its $135 million acquisition of Hampton Inn Santa Barbara/Goleta, Hampton Inn Boston-Norwood, Hampton Inn & Suites Minneapolis/Bloomington, Hyatt Place Dallas/Arlington, Springhill Suites Minneapolis/Bloomington and Residence Inn Salt Lake City Downtown.

Expanding its portfolio to 25 full-service hotels, Arbor Lodging Partners decided to acquire these properties because of the strong, diverse markets and brands, as well as the opportunity to create value through targeted capital expenditures and operational enhancements, says Vamsi Bonthala, CEO of Arbor Lodging Partners.

"It allows us to expand in five key markets, providing an attractive investment opportunity as well as new growth opportunities for Arbor associates," Bonthala says. "We hope to grow further in these markets with additional acquisitions in the future."

Bonthala says their goal is to improve product quality and the guest experience of each property based on each individual property's needs. Though the investment and operational strategy for each property is different, Bonthala says the common mission for them all is to operate consistent with their guiding principles while supporting Arbor associates and taking care of all guests.

With the onset of the coronavirus pandemic, most people are working from home. Many are social distancing or quarantining with their children, who have transitioned to online classes. Restaurants, bars, coffee shops, offices, stores and so much more have been temporarily shut down in many states, affecting daily life in the most unexpected of ways.

 

The Centers for Disease Control and Prevention on Sunday recommended that all gatherings of more than 50 people be cancelled or postponed for the next eight weeks, in order to prevent the spread of the novel coronavirus, COVID-19. The recommendation covers events like parades, concerts, festivals, conferences, sporting events, weddings and more.

 

Congratulations to all of the finalists for Illinois Meetings + Events Best of 2020 readers' choice awards! We look forward to celebrating and announcing the 2020 Best of winners and finalists as well as our 2020 Hall of Fame inductees in the upcoming Summer 2020 issue! Check out a full list of this year's finalists below.

Best Audio-Visual/Visual Presentation Provider
A/V Chicago
FROST  
PSAV