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Leddy Beefs Up Hotel Holdings With AmeriSuite Package Deal

SAN ANTONIO-The San Antonio-based buyer acquires the 128-room facilities in Austin, San Antonio and Houston from Lane Hospitality of Northbrook, IL. Leddy slides in its subsidiary as the property manager amid makes plans for a Houston office.

By Tim Green | Updated on September 16, 2002

SAN ANTONIO-Leddy Ventures Ltd. continued to expand its hotel holdings and, at the same time, established itself in Houston and its home base of San Antonio with the acquisition of three AmeriSuite properties. San Antonio-based Leddy Ventures bought the properties, the third is in Austin, from Northbrook, IL-based Lane Hospitality.

Leddy subsidiary Presidian Destinations Ltd. will manage the properties, which have a total of 384 rooms. “This purchase is consistent with our planned expansion in both the property acquisition and property management arenas,” H. Drake Leddy, president and CEO of Leddy Ventures, said in announcing the purchases. His company owns eight properties with 1,295 rooms and manages seven properties with 953 rooms.

Leddy said the company plans to open an office in Houston by the end of the year to manage the AmeriSuites and oversee two restoration projects in the city’s downtown. One is the restoration of the Humble Oil headquarters building at 1212 Main St. When completed, the 472,000-sf building will house a 191-room Courtyard by Marriott, a 171-room Residence Inn by Marriott, 82 luxury apartments and 6,000 sf of retail space. Leddy declined to disclose the identity of other project, but said it would be announced soon.

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