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Waterton, Waterford Partner on Hotel Venture
Locally-based Waterton and Waterford Hotel Group have formed a new venture to strengthen and grow their hospitality portfolios. Waterford has assumed management of eight hotels in Ohio, Illinois and Massachusetts previously operated by Waterton, which will now concentrate its efforts on continued real estate investment strategies including growing the hotel portfolio.
“Our investment management expertise and Waterford’s operational expertise represent a powerful combination which is sure to be attractive to brokers, sellers and investors in the hotel space,” said Waterton CEO David Schwartz (pictured).
Combining the hotel management platforms, he added, “allows Waterton to remain in the hotel business with a more strategic focus on asset management and acquisitions, while creating a larger portfolio with greater synergies for our assets and growth opportunities for our operations professionals.”
Waterford CEO Len Wolman said the partnership “presents greater opportunities for all of our stakeholders.” RobertDouglas advised both firms on the transaction.
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