The Buccini/Pollin Group (BPG) has announced the acquisition of the 622-room Renaissance Baltimore Harborplace Hotel in the US from real estate investment trust Sunstone Hotel Investors for $80m.
The acquisition further expands Buccini/Pollin Group’s portfolio of Marriott-affiliated and lifestyle hotels.
With the sale of the hotel, Sunstone Hotel Investors will be able to focus on its portfolio in Long-Term Relevant Real Estate and further enhance its liquidity.
The recently renovated, full-service lifestyle hotel Renaissance Baltimore Harborplace is situated in the Inner Harbor and features nearly 30,000ft² of flexible meeting and event space.
It also has three food and beverage outlets and a signature, waterfront restaurant called Watertable.
Sunstone Hotel Investors president and CEO John Arabia said: “We are pleased to announce the sale of the Renaissance Harborplace.
“The completed sale further concentrates our portfolio into Long-Term Relevant Real Estate and increases our already considerable liquidity. Our Company is well positioned to navigate the current environment and to capitalise on opportunities as they arise.”
Other amenities offered by the hotel include 24-hour fitness centre and full-service business centre, in addition to the Renaissance brand’s guest experiences and programming.
The central location of the hotel is within walking distance of Baltimore’s attractions, including M&T Bank Stadium, Camden Yards, the National Aquarium, and the Baltimore Convention Center.
Buccini/Pollin Group president Dave Pollin said: “We know and love the Renaissance brand. Renaissance invites business and leisure travellers alike to discover the unexpected.
“Coupled with the hotel’s unparalleled Inner Harbor location, Baltimore Renaissance Harborplace guests will experience the best that Baltimore has to offer.”
The Buccini/Pollin Group portfolio includes 17 Marriott-affiliated hotels, including the recently renovated and rebranded Renaissance Philadelphia Downtown.