Officials of New Castle Hotels & Resorts, a hotel owner, operator and developer, announced the acquisition of Hampton Inn and Suites, Milwaukee Downtown.
Centrally located at 176 W. Wisconsin Ave. and adjacent to the city’s Riverwalk, the 138-key hotel marks New Castle’s first acquisition of the new year. The hotel will complete systems upgrades while remaining operational.
“With strong revenue management and some overdue infrastructure upgrades, this hotel has tremendous upside potential,” said David Buffam, CEO of New Castle Hotels & Resorts. “We continue to seek out opportunities for New Castle to expand its footprint beyond its predominantly east coast presence and this hotel meets all of our investment objectives.”
“New Castle has a long track record operating in southeastern Wisconsin, and recent developments including the new $75-million Dollar General distribution center in Janesville and Amazon.com’s facility in Kenosha point to good economic times ahead,” said Gerry Chase, president and COO of New Castle. “In our new neighborhood, forward-thinking residential projects like MKE Lofts, luxury apartments adapted from an historic building, and Northwestern Mutual’s long term commitment to commercial and residential development all indicate a dynamic and growing downtown. Milwaukee’s strong food and beer scene have helped to make this the second most popular city in the Mid-West. We are very much looking forward to being part of this vibrant community.”
The Hampton Inn and Suites Milwaukee downtown offers a heated indoor pool and hot tub as well as meeting space to accommodate up to 50 people. The hotel is located just nine miles from the General Mitchell International Airport and is within walking distance of all major downtown attractions including the Harley Davidson Museum, US Cellular Arena, Milwaukee Public Theater and the city’s annual Summerfest, the world’s largest music festival.