Waramaug LS Hotels, a private investment group focused on acquiring legacy-branded assets throughout the U.S., announced the acquisition of the Candlewood Suites, Athens, Ga.
The four-story, 97-suite hotel includes rooms with fully equipped kitchens, free Wi-Fi, a fitness and business center, on-site laundry service, an outdoor gazebo, a grill and picnic tables.
“The Candlewood Suites Athens is well positioned in this market near numerous business, retail, medical and educational demand generators,” Craig Nussbaum, SVP of, Waramaug Hospitality, said in a statement. “An extensive renovation of the hotel coupled with new management will allow us to achieve upside in operating performance.”
The Candlewood Suites Athens is located 6 miles west of the University of Georgia’s main campus, within close proximity to the Georgia Square Mall, as well as manufacturers and distributors including Caterpillar, Benchmark Automation, Evoshield, Quality Deer Management Association and Formtech Enterprises. The Medical Center of Central Georgia, Georgia Theatre, Sanford Stadium, Oconee Veterans Park and the Classic Center are all within a short driving distance of the property.
Waramaug is planning a renovation of the 2009-built property this year to bring it up to current Candlewood brand standards in all areas including guestrooms, public spaces, and exterior. Interstate Hotels & Resorts will manage the property.
Waramaug LS Hotels is the select-service affiliate of Waramaug Hospitality, a privately held hotel investment manager. Waramaug Hospitality’s portfolio comprises 40 hotels totaling 4,868 rooms, and the company focuses on acquiring legacy branded hospitality assets throughout the United States.