CSM Lodging has announced a partnership with Garrison Investment Group for the sale of 10 hotels, a decision in CSM’s development strategy that further positions the company for future growth.
“We look forward to forging a mutually rewarding relationship with Garrison,” said Bob Micklash, president of CSM Lodging. “Our two companies are aligned well to help each other grow. The sale and ensuing management contract with Garrison gives us a solid platform by which to grow as a management company.”
The hotels are primarily in Minneapolis and Detroit, and include TownePlace Suites and SpringHill Suites. CSM Lodging will continue to manage the hotels.
“This partnership with CSM Lodging was an investment opportunity we couldn’t pass up,” said Chuck Pomerantz, Managing Director of Garrison Investment Group. “CSM Lodging is a proven management team, with a full suite of services designed to maximize value.”
Following the 10-hotel partnership, the company’s portfolio will include the management of 38 hotels, 28 of them owned by CSM Lodging.