GHM entities acquire two Hilton-branded hotels in Peabody, MA

The acquisition brings GHM's portfolio to eight Hilton-branded hotels

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Hampton Inn and Homewood Suites Boston Peabody hotels acquisition
Giri Bar Harbor Kebo Inc. and Giri Peabody 57 LLC, doing business as Giri Hotel Management, acquired the Hampton Inn and Homewood Suites Boston Peabody hotels in Peabody, Massachusetts, totaling 205 rooms.

Giri Bar Harbor Kebo Inc. and Giri Peabody 57 LLC, doing business as Giri Hotel Management led by Ash Sangani, recently acquired Hampton Inn and Homewood Suites Boston Peabody hotels in Peabody, Massachusetts, respectively. The two properties offer a total of 205 rooms.

The hotels are within a 10-mile radius of Salem and 13 miles south of Boston. The properties are near the headquarters of Analogic Corp., Neurological, Lahey Medical, North Shore Medical, and Boston Children’s Hospital Peabody.

“With the acquisition of these two hotels, we’re thrilled to announce the expansion of our portfolio to include eight Hilton-branded hotels,” said Sagar Malavia, GHM’s partner. “Situated along Route 1, these locations offer prime positioning for an exceptional guest experience for short- and long-term guests. We’re dedicated to fostering a welcoming, family atmosphere for our new hotel team members and look forward to fostering excellent relationships with the community for mutual economic success.”

Hunter Hotel Advisors’ senior vice presidents, Spencer Davidson and Sophia Pittaluga, represented the institutional seller in the transaction. However, the terms of the deal were not disclosed.

GHM presently runs more than 50 hotels in New England, featuring brands such as Hilton Hotels & Resorts, Hyatt Hotels & Resorts, Marriott International, Choice Hotels International, Wyndham Hotels & Resorts, IHG Hotels & Resorts and Best Western International. As per its website, the company currently operates in three states.

GHM recently entered into its first franchise agreement with Hyatt to develop and oversee a 122-room Hyatt Studios hotel at Portland International Jetport.