Interstate Hotels & Resorts and Waramaug Hospitality announced an investment in a collection of ten Marriott branded extended-stay hotels in partnership with Gatehouse Capital, an advisory client of Arch Street Capital Advisors. Gatehouse Capital is a part of the larger Gatehouse Financial Group. Interstate will operate the hotels under a long-term agreement.
The properties, consisting of a total of 1,103 rooms, are located throughout strategic submarkets of Minneapolis, Milwaukee and Detroit with three SpringHill Suites by Marriott and seven TownePlace Suites by Marriott. The portfolio includes: the SpringHill Suites Minneapolis West and TownePlace Suites Minneapolis West in St. Louis Park, Minn.; SpringHill Suites Eagan and TownePlace Suites Eagan in Eagan, Minn.; SpringHill Suites Eden Prairie and TownePlace Suites Eden Prairie in Eden Prairie, Minn.; the TownePlace Suites Livonia in Livonia, Minn.; TownePlace Suites Dearborn in Dearborn, Mich.; TownPlace Suites Sterling Heights in Sterling Heights, Mich.; TownePlace Suites Brookfield in Brookfield, Wis.
The Interstate, Gatehouse, and Waramaug partnership plans to begin a renovation of the portfolio including a transformation of the public spaces, guestrooms and building exteriors. Seven TownePlace Suites hotels, with new lobbies and new and expanded breakfast rooms, will undergo full renovations to guestrooms and corridors, along with enhancements to bathrooms. Two SpringHill Suites are completely renovated and will have additional touches. The SpringHill Suites in Eagan, Minneapolis, will have a complete renovation including all rooms, bathrooms and public spaces.