McNeill Hotel Investors acquired a two-hotel portfolio of adjacent properties in Columbia, Md. The portfolio consists of the four-story, 124-room Hampton Inn & Suites by Hilton and the four-story, 117-room Springhill Suites by Marriott.
Each hotel offers an indoor heated pool, a market, a business center and a fitness center for guests, along with a complimentary breakfast and complimentary wireless internet. The hotels are located near Interstate 95 and US 29, providing access to a variety of regional demand generators. The hotels also are within 11 miles of Fort Meade, Maryland’s largest employer.
“This was an excellent opportunity for us to acquire adjoining properties in a thriving high-end submarket between Baltimore and Washington, D.C., as we continue to grow our relationship with Hilton and Marriott select-service brands,” Phillip McNeill Jr., CEO of McNeill Hotel Investors, said in a statement.
“This Hampton Inn & Suites property, built in 2012, will undergo a full-scope renovation, while the Springhill Suites, which was renovated in 2017, will have facility upgrades,” Mark Ricketts, McNeill's president and COO, said in a statement. “This area has an outstanding employment base, in addition to an excellent downtown market and regional attractions. Moreover, approximately 14 million square feet of new development is planned for Maple Lawn mixed-use community, which is within 5 miles of the hotels.”
The acquisition by McNeill was facilitated by capital recently secured by McNeill through New York-based Almanac Realty Investors. McNeill Hotel Investors and McNeill Hotel Company now own and manage 24 select-service hotels across the Southeast, Mid-Atlantic, Midwest and West, with several additional properties in the acquisition and development pipeline.