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New Acquisition – TownePlace Suites by Marriott – London

PRESTIGE HOSPITALITY OPPORTUNITY FUND – I buys** TownePlace Suites by Marriott London
~ Marriott Development Project of the Year 2015 ~

THE HOTEL The TownePlace Suites London is currently under contract. It offers an extended-stay product featuring 126 guest suites with a fully equipped kitchen, separate living and sleeping areas. Guests have access to a complimentary buffet breakfast and convenience store. The hotel also features 980 square feet of flexible meeting space across two rooms with ample on-site parking. The $6.5 million renovation, completed in spring 2015, resulted in a total transformation of all guest facing spaces such as guestrooms, corridors, lobby, meeting spaces and kitchen areas.

PRESTIGE HOSPITALITY OPPORTUNITY FUND – I Buys** the TownePlace Suites by Marriott London 

~ Marriott Development Project of the Year 2015 ~


TPSML_restaurant2_small_WebTHE HOTEL  
The TownePlace Suites London offers an extended-stay product towneplace-suites-logo_Web_Smfeaturing 126 guest suites with a fully equipped kitchen, separate living and sleeping areas. Guests have access to a complimentary buffet breakfast and convenience store. The hotel also features 980 square feet of flexible meeting space across two rooms with ample on-site parking. The $6.5 million renovation, completed in spring 2015, resulted in a total transformation of all guest facing spaces such as guestrooms, corridors, lobby, meeting spaces and kitchen areas.

 THE LOCATION Given its prime location, superior branding, and close proximity to many attractions, businesses and universities, the hotel is poised to grow market share and increase occupancy.

TPSML_lobby_overall2_small_WebTHE LONDON REGIONTPSML_lobby_blue_chairs2_small_Web

  • Nestled in the centre of Southwestern Ontario, London is mid-way between Detroit and Toronto. Direct access to the largest markets in the continent are available through air, rail and land transportation links.
  • Recognized for its high standard of living, London offers access to exceptional education and career opportunities in diverse sectors, balanced with many recreational and entertainment choices.
  • Economic growth is well-balanced in the city, with solid presence in the manufacturing, food processing, information technology and financial services sectors.
  • A strong corporate contingent have elected to locate their headquarters in London such as 3M, London Life and Libro Financial.

“We are delighted that the hotel we are purchasing, TownePlace Suites London, as been named Marriott’s Development Deal of theYear for 2015. This newly renovated, well positioned hotel should be able to deliver early cash to our investors as it gains market share and increases revenues.” – Curtis Potyondi, Prestige Capital

** The Fund acquired an 85% joint venture interest in TownePlace Suites by Marriott, together with its joint venture partner Palm Holdings Inc. (holding a 15% joint venture interest). The Property was acquired from Palm Holdings Inc.

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