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Acquisitions & Hotel Openings

Waramaug LS Hotels Acquires SpringHill Suites by Marriott Newark Airport

BOCA RATON, FL. July 6, 207 – Waramaug LS Hotels LLC, in joint venture with a China-based investor, has acquired the SpringHill Suites by Marriott Newark Liberty International Airport hotel in Newark, New Jersey.

Located adjacent to Newark Liberty International Airport, the property is a 200-room, six-story, all-suite hotel that opened in 2004. The hotel’s amenities include complimentary breakfast, a 24-hour Market, airport shuttle service, an indoor swimming pool, a fitness center, a business center and three event rooms tailored for business and social functions. The suites feature separated living areas, wet bars with refrigerators and microwaves and work stations with complimentary high-speed wireless Internet.

“The SpringHill Suites by Marriott Newark Airport provides a convenient, quality home-away-from-home hotel experience for business and leisure travelers,” said Paul Nussbaum, CEO and chairman of Waramaug LS Hotels. “We are pleased to add this strategic, New York metropolitan-area hotel to our portfolio.”

In addition to its airport proximity, the hotel is situated near prime shopping and recreational destinations, such as The Mills at Jersey Gardens and the Prudential Center, and within a 30-minute drive of New York City.

Interstate Hotels & Resorts, located in Arlington, Virginia, has been retained to manage the hotel.

About Waramaug LS Hotels LLC

Waramaug LS Hotels LLC is the select-service affiliate of Waramaug Hospitality, a privately held hotel investment firm that focuses on acquiring legacy-branded hospitality assets throughout the United States. Waramaug Hospitality’s portfolio comprises 41 hotels with a total of 6,155 rooms. For more information, contact Paul Stern at info@waramaughospitality.com.

Contact:
Stacy Silver
ssilver@silverhospitalitygroup.com
954.306.0747

Coming Up In The December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.