Gatehouse Financial buys 10 U.S. hotels

Residence Inn Manhattan

Gatehouse Financial Group completed the purchase of 10 U.S. hotels for a combined $137 million.

The hotels are located throughout Wisconsin, Michigan and Minnesota. The group previously purchased a Marriott Residence Inn in New York City in 2014.

Fahad Boodai, Kuwaiti executive chairman of Gatehouse Financial Group, said the decision to purchase hotels in the midwest was due to the region's expected real estate expansion.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

Suggested Articles

A number of states offer immediate property tax relief related to disasters and calamities.

The company is extending furloughs of above-property employees and anticipates a significant number of position eliminations later this year.

Regions around the world reported GOPPAR declines in the triple digits for the month—but there's a light at the end of the tunnel.