Ultima Hospitality Invests in its Second Boston Area Hotel This Year with the Purchase of DoubleTree by Hilton Hotel Boston - Westborough
Ultima Hospitality, an industry-leading investment and hotel management company, announced today the closing and acquisition of the DoubleTree by Hilton Hotel Boston – Westborough in Westborough, Mass. The purchase of DoubleTree by Hilton Hotel Boston – Westborough continues the company's trend of identifying strong performing assets in markets poised for high-growth over the long-term. The 223-room hotel recently completed a renovation of the public areas and meeting space and this coupled with Ultima Hospitality's planned renovation of the guestrooms, will position the hotel to be a market leader.
Ultima Hospitality remains positive on the growth opportunities in Greater Boston and this acquisition marks the fourth in the market for the management company including their ownership of Sheraton Framingham Hotel & Conference Center, Courtyard Boston Marlborough and the newly acquired Sheraton Needham Hotel.
"We were very excited for the opportunity to acquire another institutional asset in a market we have had great success in. This acquisition also continues to broaden our relationship with Hilton Worldwide, Inc., with this being our third hotel with a Hilton brand affiliation." says Nir Liebling, chief investment officer of Ultima Hospitality. "Westborough and the surrounding areas have reached a critical mass of large corporate tenants that have recently made sizable investments in the area, signifying their long term commitment and providing a stable economic base and downside protection for years to come."
The full-service, 223-key DoubleTree by Hilton Hotel Boston – Westborough caters to both leisure and business transient guests with 13,300 square feet of meeting space, a full bar and restaurant, and an indoor pool. The hotel is 35 miles from downtown Boston and located on seven acres with 407 surface parking spots. The hotel is the only full-service hotel in Westborough.
For more information on Ultima Hospitality, visit www.ultimahospitality.com.
About Ultima Hospitality
Ultima Hospitality L.L.C., the hotel investment and management division of Waterton Associates, L.L.C., is a select and full service hotel owner and operator focused on identifying and executing value-add opportunities nationwide. Ultima's senior leaders each have over 15 years' experience investing in and managing hotel investments in major U.S. markets. An approved operator of some of hospitality's best brands, Ultima focuses on creating the optimal guest experience while maximizing total return on investment. Waterton Associates is headquartered in Chicago with seven regional offices in the U.S. and manages over $3.5 billion in real estate investments, including Ultima's portfolio of eleven hotels. For a complete list of the company"s portfolio along with more information, please visit www.ultimahospitality.com.