AAM 15 Management has acquired Embassy Suites of Portland, Maine, for undisclosed amount.
Situated by the Portland Jetport, and just within ten minutes to the southern coastline and downtown ‘Old Port’ waterfront district, Embassy Suites is a close to Portland’s architectural sites, boutiques, art galleries and fine dining.
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AAM 15 Management founder and CEO David Masse said that the acquisition is an ideal fit as it continues to expand its east coast presence from Maine to Virginia.
It is looking for additional development and acquisitions along the east coast.
According to Masse, as the third AAM 15 Hilton branded property, “…we see the Embassy Suites Portland as adding great value and returns to our investors. It is a top performing hotel in its competitive set, with a near unprecedented RevPAR Index (RGI) nearing 200.
“While the hotel undertook a recent renovation of its lobby space, we have an extensive property improvement plan that will give lift to the remaining public space, guest rooms, pool and fitness area and overall curb appeal, enhancing both the property value and guest experience.”
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By GlobalDataThe Embassy Suites Portland has 119 suites, a full-service restaurant and lobby bar and almost 2,000ft2 of meeting and special event space.
For the guests, the hotel also offers in-room dining, complimentary 24-hour shuttle, daily breakfast and evening refreshments, in-room safes, a fitness facility and in-door pool, jacuzzi, and outdoor patio and green space.
The hotel is located outside of Portland’s International Airport and is one mile to Interstate 95.
Besides the Embassy Suites Hilton Portland, the company’s other assets include the Hilton Garden Inn Downtown Freeport; Residence Inn by Marriott Boston /Burlington; Residence Inn by Marriott Burlington /Colchester; the Crowne Plaza Boston-Woburn; the Springhill Suites Roanoke, Virginia; the Doubletree by Hilton Burlington,Vermont. The Residence Inn by Marriott Downtown Manchester in New Hampshire will open in 2020.
