Richfield Hospitality, a leading hotel management company, and Shelbourne Falcon Investors, an opportunistic real estate investment company, today announced that they acquired in a joint venture the 161-room DoubleTree Burlington hotel in Vt. for an undisclosed amount. It is the fourth hotel acquisition made by the two companies.
“We like the Burlington market because of its multiple demand generators,” said Greg Mount, president of Richfield Hospitality. “We continue to seek growth opportunities in similar locations with strong partners like Shelbourne Falcon.
“This acquisition points to a strong year for Richfield,” he said. “We expect to see accelerated growth both in hotel management and acquisitions as the hotel industry continues to strengthen and more hotels change hands.”
“The DoubleTree by Hilton Burlington has outperformed the market so when it became available, we were eager to once again join forces with Richfield and add it to our growing portfolio of full-service hotels,” said Joe Fox, managing partner Shelbourne Falcon Investors. “We continue to have a robust appetite for quality hotels throughout the United States.”
Located at 1117 Williston Road S., the hotel is just off 189 Interstate highway. “Because of its location in the state capital, the DoubleTree by Hilton Burlington is well positioned to serve business and government travelers,” Mount said. “It also has a strong leisure traveler base serving families visiting three nearby colleges and universities, and providing close proximity to Vermont’s leisure attractions like Lake Champlain and numerous nearby ski resorts. The property has the feel of a country inn, the amenities of an upscale hotel and spacious meeting facilities capable of handling up to 400 guests.”
The DoubleTree by Hilton Burlington offers 128 rooms and 33 suites all featuring the brand’s signature Suite Dreams beds, Wolfgang Puck in-room coffee, Crabtree and Evelyn amenities and the warm chocolate chip cookie welcome known the world over as the symbol of genuine hospitality.
Trader Duke’s serves breakfast, lunch and dinner daily and the hotel welcomes guests with an indoor pool and hot tub, 24-hour fitness center, 24/7 airport shuttle service and complimentary parking and WiFi. The hotel is pet friendly.
Just five minutes from the Burlington International Airport (BTV), the hotel is located near Vermont ski resorts, Stowe, Smuggler’s Notch, Sugarbush and Bolton Valley. The University of Vermont, Ben and Jerry’s, IBM, Green Mountain Coffee Roasters and the Department of Homeland Security also are nearby.
About Richfield Hospitality
Richfield Hospitality, Inc. is a leading hotel management company with a premier track record of maximizing profitability and improving asset values for hotel owners. From hotel operations and property management to electronic distribution and interactive marketing, Richfield achieves superior operating results through its strong commitment to guests, employees and owners. Based in Denver, Richfield is part of City Developments Limited, one of the world’s largest real estate, hotel investment and technology conglomerates with a market capitalization exceeding US$6 billion. Additional information about Richfield Hospitality may be found at the company’s website www.richfield.com.
|03:01 AM||Kindle Fire HD and Kindle Fire HD 8.9” Now Available for Pre-Order for Customers in over 170 Countries Around the World, Shipping June 13|
|03:00 AM||Dickey’s Barbecue Hosts Grand Opening in Brentwood|
|03:00 AM||Univa Partners with science + computing to Expand Univa’s Reach to Enterprises in Europe and Add Services to Univa’s Product Suite|
|02:30 AM||Advanced Bionics Announces the Commercial Release of the Naída CI Q70 Sound Processor in Europe, Canada and Several Other Countries around the World|
|02:00 AM||Nordion Enters into Agreement to Divest Targeted Therapies Business to BTG plc|
|02:00 AM||EEG Diagnostic Specialist MentisCura Joins Stockholm Brain Institute Consortium|
|01:00 AM||Technip awarded contract for flare modification in Abu Dhabi|
|12:54 AM||Lenovo Reports Strong Fourth Quarter and Full Year 2012/13 Results|
|12:01 AM||Overture Secures an Initial $8 Million in New Funding to Accelerate Innovation|
|Wed, May 22, 2013|
|11:00 PM||OTK Associates Mails Definitive Proxy Statement and Sends Letter to Morgans Hotel Group Stockholders|
|10:01 PM||Love’s Travel Stops to Donate $3 Million to Oklahoma Disaster Relief|
|10:00 PM||Logitech Proposes Dividend for 2013, Provides Perspective on Financial Performance Goals for FY 2016|
|08:06 PM||Oaktree Capital Group, LLC Announces Pricing of Public Offering of Class A Units|
|08:05 PM||Gap Inc. Announces Dividend|
|07:28 PM||Wells Fargo Advantage Closed-End Funds Declare Monthly and Quarterly Dividends|
|07:16 PM||geo.to Announces New GeoSite Services to Mobilize Locations|
|07:05 PM||WOW! Reports Results for First Quarter March 31, 2013|
|07:00 PM||Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of Soundbite Communications, Inc. Following Announcement of the Proposed Sale of the Company to Genesys|
|07:00 PM||Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of Multiband Corporation Over the Proposed Acquisition of the Company by Goodman Networks|
|06:49 PM||ORBCOMM Wins 2013 CTIA E-Tech Award|
|06:41 PM||Fitch Rates Freescale's $500MM Senior Secured Notes 'CCC+/RR3'|
|06:38 PM||Luxoft Holding, Inc Files Registration Statement for Proposed Initial Public Offering|
|06:33 PM||Wesco Aircraft Holdings, Inc. Announces Pricing of Sale of Common Stock by The Carlyle Group|
|06:30 PM||NetSpend Holdings, Inc. Announces Order|
|06:28 PM||Merck Statement on FDA Advisory Committee Meeting for Suvorexant|
|06:27 PM||CORRECTING and REPLACING CAPTION Rolls-Royce AE 3007 Powers First Flight of US Navy’s Triton UAV|
|06:26 PM||Fitch Affirms Eugene, OR's Water Revs at 'AA+'; Outlook Stable|
|06:20 PM||LuxLock™: Revolutionary New Earring Back and Post System for Gold Earrings|
|06:16 PM||Wells Fargo to Participate in the Deutsche Bank dbAccess Global Financial Services Investor Conference|
|06:14 PM||Diverse Careers, Inc. Announces San Diego & Inland Empire Career Fairs|
|More Press Releases From Business Wire News Releases|