Giri Bar Harbor Kebo Inc. and Giri Peabody 57 LLC have purchased Hampton Inn and Homewood Suites Boston Peabody, respectively. Hunter Hotel Advisors Senior Vice Presidents Spencer Davidson and Sophia Pittaluga represented the institutional seller. Other terms were not disclosed.
With a combined total of 205 keys, the Hampton Inn and Homewood Suites Boston Peabody are positioned along US-1 near the intersection of US-1 and I-95. Adjacent to one other, the new owner is poised to benefit from significant operational synergies. Situated less than 10 miles from Salem, the hotels capitalize on the area’s increased visitor traffic, which exceeds 900,000 visitors during the month of October each year. Located 13 miles south of Boston, the hotels provide convenient access to several nearby demand generators, including the global headquarters of Analogic Corporation, Neurological, Lahey Medical, North Shore Medical and Boston Children’s Hospital Peabody.
"With the acquisition of these two hotels, we're thrilled to announce the expansion of our portfolio to include eight Hilton-branded hotels," Giri Partner Sagar Malavia said in a statement. "Situated along Route 1, these locations offer prime positioning for an exceptional guest experience for short- and long-term guests. We're dedicated to fostering a welcoming, family atmosphere for our new hotel team members and look forward to fostering excellent relationships with the community for mutual economic success."