Hospitality Funding has raised both the equity and debt financing for the purchase of the 130-room Holiday Inn & Suites Milwaukee Airport Hotel. Hospitality Funding advised the buyer group, consisting of a leading hospitality asset management firm and a US-based private investment management company.
When assessing the transaction, the buyer group considered the following:
● The hotel is located only one mile from both General Mitchell International Airport and Interstate 94/43, and within minutes of downtown Milwaukee, the Milwaukee Convention Center, Miller Park, Bradley Center, and the Boerner Botanical Gardens.
● The property’s 32 suites, which account for nearly one quarter of its guestrooms, affords the property a distinct advantage over competing hotels in the market.
The buyer group is planning to execute a full renovation of the hotel’s guestrooms, which is expected to result in significant upside for the investors.