Summary:
- Jamsan Hotel Management bought the Homewood Suites in Stratford, Connecticut.
- The hotel was built in 2002 and is close to major employers and universities.
- Hunter Hotel Advisors brokered the deal, and Jamsan plans property updates.
JAMSAN HOTEL MANAGEMENT acquired the 135-key Homewood Suites by Hilton Stratford in Stratford, Connecticut, from an institutional seller. The deal was brokered by Hunter Hotel Advisors and the terms were not disclosed.
The property is close to Sikorsky Aircraft Corp. headquarters, Sacred Heart University, Yale University, BIC Corporation, Bridgeport Hospital and St. Vincent’s Medical Center, Hunter said in a statement. The 2002-built property includes an indoor pool, fitness center, business center and meeting space.
The Lexington, Massachusetts-based hotel and asset management company is owned by Ashok Patel who also is Jamsan's chief development officer.
“This will be a fantastic opportunity for us to improve the product and provide an updated extended-stay hotel experience to our guests,” said Patel. “We continue to believe in the submarket as a robust performer.”
The transaction was led by Spencer Davidson, Hunter’s senior vice president in the New York office.
“This transaction reflects the continued strength of the extended-stay segment and the strategic interest we’re seeing from experienced regional operators like Jamsan,” Davidson said. “Stratford’s economic diversity and proximity to major corporate and institutional demand drivers make it a compelling market for long-term hotel investment.”
Recently, Olympia Hospitality acquired the Hilton Garden Inn Arvada in Arvada, Colorado.
