Ultima Hospitality Finalizes Purchase of DoubleTree by Hilton in Westborough, Massachusetts

Fourth Boston area owned and managed hotel for Ultima Hospitality

. July 06, 2015

CHICAGO, IL. July 6, 2015 - Ultima Hospitality, an industry-leading investment and hotel management company, announced today the closing and acquisition of the DoubleTree by Hilton Hotel Boston - Westborough in Westborough, Mass. The purchase of DoubleTree by Hilton Hotel Boston - Westborough continues the company's trend of identifying strong performing assets in markets poised for high-growth over the long-term. The 223-room hotel recently completed a renovation of the public areas and meeting space and this coupled with Ultima Hospitality's planned renovation of the guestrooms, will position the hotel to be a market leader.

Situated approximately 35 miles west of downtown Boston, DoubleTree by Hilton Hotel Boston - Westborough is within close proximity to corporate demand generators including Bose Corporation, Simplivity and eClinicalWorks. The prime location of DoubleTree by Hilton Hotel Boston - Westborough provides easy access to Waltham and the Route 128 Tech Corridor.

Ultima Hospitality remains positive on the growth opportunities in Greater Boston and this acquisition marks the fourth in the market for the management company including their ownership of Sheraton Framingham Hotel & Conference Center, Courtyard Boston Marlborough and the newly acquired Sheraton Needham Hotel.

"We were very excited for the opportunity to acquire another institutional asset in a market we have had great success in. This acquisition also continues to broaden our relationship with Hilton Worldwide, Inc., with this being our third hotel with a Hilton brand affiliation." says Nir Liebling, chief investment officer of Ultima Hospitality. "Westborough and the surrounding areas have reached a critical mass of large corporate tenants that have recently made sizable investments in the area, signifying their long term commitment and providing a stable economic base and downside protection for years to come."

The full-service, 223-key DoubleTree by Hilton Hotel Boston - Westborough caters to both leisure and business transient guests with 13,300 square feet of meeting space, a full bar and restaurant, and an indoor pool. The hotel is 35 miles from downtown Boston and located on seven acres with 407 surface parking spots. The hotel is the only full-service hotel in Westborough.

For more information on Ultima Hospitality, visit www.ultimahospitality.com.

About Ultima Hospitality

Ultima Hospitality, the hotel investment and management division of Waterton Associates, is a Chicago-based select and full service hotel owner and operator focused on identifying and executing value-add opportunities nationwide. As an approved operator of some of hospitality's premier brands, Ultima focuses on creating the ultimate guest experience while maximizing total return on investment. Waterton Associates is headquartered in Chicago with seven regional offices in the United States and currently manages over $3.8 billion in real estate investments, including Ultima's portfolio of 13 hotels. For a complete list of the company's portfolio along with more information, visit www.ultimahospitality.com.

About DoubleTree by Hilton

With a fast-growing, global collection of more than 415 upscale hotels in gateway cities, metropolitan areas and vacation destinations across six continents, every little thing we do at DoubleTree by Hilton inspires us to create a rewarding experience for our hotel guests, our Team Members and the communities we proudly serve. Our hospitality begins with a warm chocolate chip cookie welcome upon arrival and continues with the award-winning Hilton HHonors guest loyalty program, an array of fine services and amenities and our longstanding CARE Culture tradition that empowers Team Members to provide the special comforts and acts of kindness that make the traveler feel human again. To make reservations at any DoubleTree by Hilton hotel, travelers may visit our brand website at www.doubletree.com. For the latest news, story starters and fact sheets about our brand, reporters and bloggers may visit our DoubleTree by Hilton Global Media Center at news.doubletree.com.

About Hilton Worldwide

Hilton Worldwide (NYSE: HLT) is a leading global hospitality company, spanning the lodging sector from luxury and full-service hotels and resorts to extended-stay suites and focused-service hotels. For 95 years, Hilton Worldwide has been dedicated to continuing its tradition of providing exceptional guest experiences. The company's portfolio of twelve world-class global brands is comprised of more than 4,350 managed, franchised, owned and leased hotels and timeshare properties, with more than 720,000 rooms in 94 countries and territories, including Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio - A Collection by Hilton, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages an award-winning customer loyalty program, Hilton HHonors®. Visit news.hiltonworldwide.com for more information.

Contact:
Melissa Olster
[email protected]
850.421.9007

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