Cincinnati Courtyard sells for more than $20 million

An affiliate of Dallas-based Aimbridge Hospitality and New York City-based BlueMountain Capital Management have purchased the Courtyard Cincinnati Covington hotel for more than $21.7 million, reports the Cincinnati Business Courier. Earlier this year, the JV purchased three other Marriott-branded hotels in Greater Cincinnati as part of the acquisition of 11 Marriott Ohio hotels.

The Courtyard Cincinnati Covington is a nine-story hotel with 187 rooms and seven suites. The hotel also has three meeting rooms with nearly 1,900 square feet of space, an outdoor terrace with a fireplace, an indoor pool and hot tub, a fitness center, and the lobby features the Bistro, which offers breakfast and snacks, cocktails, wine and beer in the evening. The hotel recently underwent a $2.5 million room renovation project.

The hotel was owned by a partnership of Boston-based CrossHarbor Partners, Junius and Madden, the same ownership group that sold the three Ohio hotels.

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