Receive our newsletter – data, insights and analysis delivered to you
June 3, 2013

StepStone expands managed hotel portfolio with acquisition of two Marriott properties

StepStone Hospitality, a Providence-based hospitality management firm, has expanded its managed hotel portfolio with the acquisition of two Marriott properties in Baton Rouge, Louisiana.

By admin-demo

StepStone

StepStone Hospitality, a Providence-based hospitality management firm, has expanded its managed hotel portfolio with the acquisition of two Marriott properties in Baton Rouge, Louisiana.

The two properties are the Residence Inn by Marriott Siegen Lane and the Courtyard by Marriott Siegen Lane.

Both hotels are owned by a joint-venture partnership that includes StepStone Hospitality.

With the acquisition of the hotels, StepStone’s managed properties portfolio rises to ten hotels and the number of managed rooms rises to more than 1,700.

The firm specialises in the management of full-service and select-service hotel operations.

StepStone Hospitality chairman and CEO Thomas Russo said it is the company’s ongoing strategy to grow its portfolio through third party management agreements as well as acquisition opportunities where it can participate in ownership through a partnership.

Content from our partners
Untapped: How Turks and Caicos is primed for tourism investment
Untapped: How Turks and Caicos is primed for tourism investment
LG smart hospitality solutions in a post-COVID era
"They are extraordinary hotels and fit perfectly with our ongoing strategy to seek out growth opportunities in both the full-service and select-service categories."

The Residence Inn by Marriott Siegen Lane hotel features 115 rooms and suites, equipped with full kitchens and separate areas for sleeping, working and eating.

Scheduled for renovation in the coming months, the hotel currently offers amenities such as free breakfast, complimentary Wi-Fi, picnic and barbecue area, and complimentary beer and wine.

The Courtyard by Marriott Siegen Lane hotel has recently undergone renovation and features 108 rooms, heated indoor swimming pool, hot tub and fitness centre.

The renovation included the addition of complimentary Wi-Fi, high-definition television and mini refrigerators in all the rooms.

Both properties offer complimentary onsite parking and a smoke-free environment, and are located close to shopping, dining and entertainment facilities, including the Mall of Louisiana, Blue Bayou Water Park and Louisiana State University.

StepStone Hospitality president and chief operating officer Blair Wills said the company is pleased to add the two properties to its portfolio.

"They are extraordinary hotels and fit perfectly with our ongoing strategy to seek out growth opportunities in both the full-service and select-service categories," Wills added.


Image: Exterior view of the Residence Inn by Marriott Siegen Lane hotel in Baton Rouge, Louisiana. Photo courtesy of Marriott International, Inc.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU