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| David Buffam |
SHELTON, CT —Officials of New Castle Hotels
& Resorts, a leading hotel owner, operator and developer, announced the
acquisition of Hampton Inn and Suites, Milwaukee Downtown.
Centrally located at 176
W. Wisconsin Ave. and adjacent to the city’s Riverwalk, the 138 key hotel marks
New Castle's first acquisition of the New Year.
The hotel will complete underway systems upgrades while remaining
operational.
"With strong revenue
management and some overdue infrastructure upgrades, this hotel has tremendous
upside potential," said David
Buffam, CEO of New Castle Hotels & Resorts. "We continue to seek out opportunities
for New Castle to expand its footprint beyond its predominantly east coast
presence and this hotel meets all of our investment objectives."
 |
| Gerald Chase |
“New Castle has a long
track record operating in southeastern Wisconsin, and recent developments
including the new $75 million Dollar General distribution center in Janesville
and Amazon.com’s facility in Kenosha point to good economic times ahead,"
said Gerry Chase, president and COO
of New Castle.
"In our new
neighborhood, forward-thinking residential projects like MKE Lofts, luxury
apartments adapted from an historic building, and Northwestern Mutual’s long
term commitment to commercial and residential development all indicate a
dynamic and growing downtown.
“Milwaukee’s strong food
and beer scene have helped to make this the second most popular city in the
Mid-West. We are very much looking
forward to being part of this vibrant community.”
For a complete copy of the company’s
news release, please contact:
Lauralee Dobbins
Write Touch Public
Relations
609-451-5102
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