Procaccianti Hotel REIT, Inc. Acquires Hotel Indigo in Traverse City, MI

Hotel Indigo, 263 West Grandview Parkway, Traverse City, MI

Cranston, RI -- Procaccianti Hotel REIT, Inc., announced  it acquired the Hotel Indigo located at 263 West Grandview Parkway in Traverse City, Michigan on August 15, 2018. The hotel property is managed by TPG Hotels & Resorts, Inc.

Gregory Vickowski

The 107-room, boutique style, select-service hotel opened in May 2016 and overlooks Lake Michigan’s West Grand Traverse Bay. Located in the Downtown Warehouse District, the hotel features include underground valet parking, approximately 3,000 square feet of meeting space, a fitness center, business center, restaurant and a rooftop bar overlooking West Grand Traverse Bay.

“We believe that the Hotel Indigo Traverse City is an exceptional, new vintage property with multiple built-in demand drivers – its rooftop bar, extraordinary design features, and other amenities make this premium-branded, select-service hotel a strong addition to our portfolio,” said Gregory Vickowski, Chief Financial Officer of Procaccianti Hotel REIT, Inc.

Michael Moore

The hotel is expected to continue to benefit from the area’s strong leisure and corporate demand stemming from the major attractions and employers in immediate proximity. 

With a wealth of restaurants and wineries, Traverse City is becoming a popular destination for food and wine enthusiasts.

 The area’s many historic buildings have been renovated and now house modern shops, art galleries, restaurants and craft breweries. 

 Traverse City is also home to several major events, including the National Cherry Festival and Traverse City Film Festival, founded by film director Michael Moore.

CONTACT:

PATRICK DALY

OFFICE MANAGER

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-300-8289

patrick@dalygray.com | www.dalygray.com

or

Ralph Izzi, media

(401) 946-4600

rizzi@procaccianti.com