$120M U.S. Northeast Hotel Portfolio.
Background: In September 2014, Andy Stull and Minaz Hudani along with an investment group (incl. Daniel del Olmo) acquired an 8-hotel portfolio in the greater Philadelphia and New Jersey area for $95M. $14M is spent on renovations, which are nearing completion.
Results to date.
- Yr. 1: +13% YOY Total Revenue
- Yr. 1 NOI: 31.7%