Lenox Hotels Sold for $38M
LENOX, Mass. — Two Lenox hotels on the Pittsfield Lenox Road have been acquired by a Denver hospitality company in a deal for $38 million.
Mission Hill Hospitality, a KSL Capital Partners portfolio company, closed the sales on Aug. 11 for the Courtyard by Marriot Lenox and Hampton Inn & Suites Berkshires-Lenox from Toole Lodging Group.
"The Berkshires are a top drive-to-leisure destination in New England, filled with a rich history and an abundance of attractions bringing in tourists to Lenox year-round," said Mike Wilbert, managing director of Mission Hill Hospitality, in a statement announcing the purchases. "We are excited about the continued growth of our portfolio as we further expand into New England with these two assets."
The Courtyard by Marriot Lenox was opened in 2017 with 92 rooms at a cost of about $10 million. Situated on over 6.5 acres, it has a bistro that includes breakfast and all-day Starbucks coffee service. Other amenities include an outdoor fire pit, picnic and barbeque area, an indoor swimming pool and whirlpool, upgraded complimentary wi-fi, a fitness center, business center, a 1,394 square feet of meeting space, and an electric car charging station.
Hampton Inn & Suites Berkshires-Lenox was built in 2008 and its 79 rooms offer guests a mix of king spa, king, queen rooms and king studio suites, including accessible, connecting, and pet-friendly rooms. Guests enjoy complimentary breakfast, an indoor pool, fitness center, business center, and 912 square feet of event space.
The Marriot was sold for $25 million and the Hampton Inn for $13 million, according to documents on file with the Registry of Deeds, to MHH Lenox 70 Holdings LLC and MHH Lenox 445 Holdings LLC, respectively. The properties were held by Toole doing business as Toole Properties 2006 Inc. and Brushwood LLC.
The Toole Lodging Group's other holdings are the Yankee Inn in Lenox and Yankee Suites Extended Stay in Pittsfield.
According to the company's website, Mission Hill is focused on "transforming select-service and extended-stay hotel investing." The two Lenox properties are the 22nd and 23rd hotels added to its portfolio since the company was launched last year.
Tags: motels, hotels,
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