Urban Commons Acquires the 243-room Crowne Plaza Danbury Hotel, Danbury, CT
LOS ANGELES - July 23, 2014 - Urban Commons, LLC announces today the purchase of the 243-room Crowne Plaza Danbury Hotel located in Danbury, Connecticut. The Crowne Plaza Danbury, an InterContinental Hotels Group hotel, is an upscale full service hotel situated approximately a half mile from the New York state border, and conveniently located near area businesses such as Boehringer Ingelheim, Goodrich, Praxair, Cartus, General Electric, IBM, the new Army Reserve Center, UTC and several other major corporations. The Property is minutes form the Danbury Fair Mall (one of the largest shopping malls in the state of Connecticut and the fifth largest in New England), Candlewood Lake, the Charles Ives Concert Park, Litchfield Hills, the Military Museum of Southern New England and the Danbury Railway Museum. World class golf courses, skiing facilities and other area natural attractions are also nearby. The Hotel has two restaurants, two bars, a lounge, a concierge lounge, guest laundry facilities, game room, heated indoor pool, fitness center and tennis courts. The Hotel also has a fully equiped business center and 19 meeting rooms with approximately 26,000 square feet of flexible function space.
Over the last several years, Urban Commons has completed a large number of commercial property acquisitions. Urban's hotel acquisitions over that period totaled over $350 Million in asset value. With top management in place, the Company has been able to seamlessly take over hotels and quickly generate value by adding directly to their bottom line. Urban Commons targets value-add opportunities where they see the greatest growth potential and upside opportunities for returns. With their success, Urban Commons continues to aggressively grow its portfolio in the hospitality sector.
About Urban Commons
Urban Commons, a Los Angeles-based real estate investment firm, specializes in hospitality and residential income generating assets. Urban Commons targets value-add property acquisitions in highly populated, predictable markets. With decades of cumulative real estate investment, development, and management experience, the company has proven the ability to thrive in the US real estate market throughout all market cycles. Urban Commons owns, manages and invests in a variety of assets including land, apartment buildings, condominium projects, hotels, retail and commercial properties. Hospitality partners include names such as, Starwood Hotels and Resorts Worldwide, Hilton Worldwide, InterContinental Hotels Group and Wyndham Worldwide. For further information about Urban Commons, please visit www.urban-commons.com.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
