Braintree Group adds three hotels to portfolio

Braintree Group has acquired three properties, adding 330 rooms to its hospitality portfolio. Terms and details of the deal were not disclosed, but third-party management company Resolute Road Hospitality is set to manage all three assets.

The properties include the Courtyard by Marriott Lehi at Thanksgiving Point and the SpringHill Suites by Marriott Lehi at Thanksgiving Point—both in Lehi, Utah—and the Hilton Garden Inn Las Vegas/Henderson, in Henderson, Nev.

“These three properties fit well into our investment criteria and are well positioned in their markets near numerous demand generators,” Braintree Group CEO Eric Danziger said in a statement. “By installing our preferred management team, Resolute Road Hospitality, coupled with various property renovations and system upgrades, I am supremely confident that customers will enjoy an enhanced experience and our investors realize an improved return on investment.”

The four-story, 97-room Courtyard by Marriott Lehi at Thanksgiving Point opened in 2014 and has an indoor swimming pool, hot tub, fitness center, business center and bistro. The four-story 94-room SpringHill Suites by Marriott Thanksgiving Point opened in 2008 and has an indoor pool, hot tub, fitness center, business center, meeting rooms, guest laundry and an outdoor BBQ area. These two hotels are located off Highway 15 at Thanksgiving Point in the center of the Silicon Slopes.

The three-story 139-Key Hilton Garden Inn Las Vegas/Henderson opened in 2007 and underwent a renovation in 2020. The property has an outdoor pool, business center, fitness center, meeting rooms and the Garden Grille & Bar. The hotel is located right outside of downtown Las Vegas.

"These are fabulous assets with built-in demand drivers in growing markets," said Gary Horton, president, Resolute Road Hospitality. "We see tremendous opportunity for these properties as we implement our systems, which will unlock significant value to ownership. We are thrilled to expand our managed portfolio and continue growing our team throughout the region.”

Braintree plans to launch a substantial renovation to the SpringHill Suites by Marriott and a property refresh of the Courtyard by Marriott at the end of 2024. The scope of work for these projects will focus on elevating the guestrooms and a refresh of the hotel’s public areas.