Wheelock Street Capital Acquires Six Hotel Portfolios
Totaling 703 Rooms in Texas, Tennessee and Ohio
GREENWICH, CT - July 25, 2103 - Wheelock Street Capital announced today that affiliates of Wheelock have acquired a six hotel portfolio, with a total of 703 rooms located in Texas, Tennessee and Ohio. The portfolio includes five Marriott-branded hotels and one Hilton-branded asset.
On July 1st, Wheelock acquired the hotels from affiliates of Lingate Hospitality Group, a well-regarded owner-operator and developer. The hotels include three assets in Texas, the 138-room Hilton Garden Inn - Austin Arboretum, the 113-room Marriott Courtyard - Round Rock, and the 125-room Marriott Courtyard - College Station, along with two hotels in Nashville - the 94-room Marriott Courtyard - Opryland and 109-room Fairfield Inn and Suites - Opryland, and finally, the 124-room Springhill Suites - Cincinnati North. The terms of the transaction were not disclosed. Lingate Hospitality Group will continue to manage the hotels on behalf of Wheelock.
"We are excited to begin a relationship with Glenn Higdon and his team at Lingate. This portfolio was not marketed, as Glenn was seeking an acquirer that would be a good match for his company, and we feel fortunate that we were able to get a deal done." said Patrick Campbell, a Principal of Wheelock Street Capital. "Lingate is an outstanding operator, the hotels are in excellent condition, these markets are healthy and they blend well with our existing portfolio of eleven existing select service assets in Texas and the Southeast."
About Wheelock Street Capital, L.L.C.
Wheelock Street Capital, L.L.C. is a real estate private equity firm founded in 2008 by Merrick R. Kleeman and Jonathan H. Paul. Wheelock Street pursues a highly focused, fundamentally-driven investment strategy. Backed by established institutional capital, Wheelock closed its latest investment fund in November 2011. The company focuses on real estate investments throughout North America and will invest in both public and private market opportunities and in all parts of the capital structure. Wheelock Street Capital, through its proprietary hotel platform, currently owns 26 hotels with over 4,900 guest rooms.
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 
