Properties

Braintree Group acquires three new hotels to add to its portfolio

Braintree Group, a privately held, vertically integrated, national real estate development and investment firm, announcedBraintree Group today the acquisition of three properties, adding 330 rooms to their rapidly growing hospitality portfolio. Resolute Road Hospitality, a national third-party management company driven by a promise to provide owners with an increased return on their assets, will manage all three assets.

The properties include the Courtyard by Marriott Lehi at Thanksgiving Point and the SpringHill Suites by Marriott Lehi at Thanksgiving Point, both in Lehi, Utah, and the Hilton Garden Inn Las Vegas/Henderson, in Henderson, Nevada.

“These three properties fit well into our investment criteria and are well positioned in their markets near numerous demand generators,” said Eric Danziger, Chief Executive Officer, of Braintree Group. “By installing our preferred management team, Resolute Road Hospitality, coupled with various property renovations and system upgrades, I am supremely confident that customers will enjoy an enhanced experience and our investors realize an improved return on investment.”

The four-story, 97-room Courtyard by Marriott Lehi at Thanksgiving Point opened in 2014 and features an indoor swimming pool, hot tub, fitness center, business center, and bistro. The four-story 94-room SpringHill Suites by Marriott Thanksgiving Point opened in 2008 and features a complimentary breakfast, indoor pool, hot tub, fitness center, business center, meeting rooms, guest laundry, and an outdoor BBQ area. These two hotels are located off Highway 15 at Thanksgiving Point in the center of the Silicon Slopes. Guests will enjoy being within walking distance of the Ashton Garden, Butterfly Biosphere, Farm Country, Museum of Ancient Life, Thanksgiving Point Golf Club, and thriving restaurants.

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The three-story 139-Key Hilton Garden Inn Las Vegas/Henderson opened in 2007 and underwent a renovation in 2020. The property features an outdoor pool, business center, fitness center, meeting rooms, and the Garden Grille & Bar. The hotel is located right outside the heart of downtown Las Vegas, where guests can enjoy a short drive to either the Las Vegas strip or The District at Green Valley Ranch for ample shopping and dining.

“These are fabulous assets with built-in demand drivers in growing markets,” said Gary Horton, President, Resolute Road Hospitality. “We see tremendous opportunity for these properties as we implement our systems, which will unlock significant value to ownership. We are thrilled to expand our managed portfolio and continue growing our team throughout the region.”

The acquisition of these three hotels fits squarely into Braintree Group’s value-add strategy. Braintree plans to launch a substantial renovation to the SpringHill Suites by Marriott and a property refresh of the Courtyard by Marriott at the end of 2024. The scope of work for these projects will focus on elevating the guestrooms and a refresh of the hotel’s public areas.

Tags: Braintree Group, new hotels, portfolio

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