Waterford Hotel Group acquires five new hotels

A Waterford-based hotel management company, working with a series of investment partners,  acquired five new hotels to add to the 23 properties it already owns or manages, including three in the New Haven area.

Terms of the hotel purchases made by the Waterford Hotel Group and its investment partners are not being released. In addition to having an ownership stake in the newly acquired properties, Waterford Hotel Group also will manage the facilities.

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The company’s portfolio now includes 28 properties in seven states, with more than 3,800 rooms. Waterford Hotel Group operates 16 properties in Connecticut, including the newly acquired Courtyard by Marriott in Shelton, as well as two in Milford, SpringHill Suites and the Residence Inn.

The other two properties that the Waterford Hotel Group acquired in its latest series of deals are the 132-suite Hyatt House in Windsor and the DoubleTree Hotel in Little Rock, Ark., which has 288 rooms. The acquisition of the Windsor property marks the first of Hyatt’s hotel brands to become a part of the Waterford portfolio.

The two newly-acquired properties in Milford will undergo renovations soon. The Courtyard by Marriott in Shelton, which opened in 1990 as a full service hotel, has 161 rooms. It was fully renovated three years ago. The SpringHill Suites in Milford has 124 units and was built in 2000. The Residence Inn, adjacent to the SpringHill Suites and opened in 2004, has 74 suites.

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On-the-books pace was up 4.5 percent, while newly signed bookings rose 4.4 percent, according to a recent report.

The one-day event will focus on related hospitality concepts such as hostels, co-living, co-working, student accommodation and serviced apartments.

The company plans to introduce the changes—including switching to large-format bathroom amenities—no later than June 2021.