Sage Hospitality and Whitman Peterson Form Partnership

DENVER—Sage Hospitality, one of the leading hotel investment and management companies in the US, has purchased seven Courtyard by Marriott hotels in partnership with Whitman Peterson.  The purchase marks the launch of a programmatic, highly-focused investment strategy between Sage and Whitman Peterson, wherein they plan to acquire a sizable portfolio of select-service hotels in need of high-impact capital, operational, and/or brand improvements. This first portfolio of hotels, purchased from Clarion Partners and C-III Capital Partners, will bring Sage’s management portfolio up to more than60 hotels nationwide. 

The properties are located in desirable, business-oriented submarkets of Atlanta, Ga., Dallas, Texas, Detroit, Michigan, and Cleveland, Ohio.  Each hotel will receive significant capital for complete guestroom and public space renovations, which include the addition of the Marriott Courtyard Refreshing Business Lobby (including the “Bistro” dining concept) to assist in repositioning each property. Once completed, these hotels will be better equipped to regain their  leading positions within each submarket and take full advantage of  their prime locations and strong brand. “This transaction represents precisely the type of opportunity on which  Sage and Whitman Peterson are uniquely qualified to execute,” said  Michael Everett, Chief Investment Officer at Sage Hospitality.  “Our  national investment, operating, and capital projects teams allow us to  source, reposition, and efficiently operate one-off assets or large  portfolios across the country – and having a significant allocation of  capital toward this effort really opens up great opportunities for us.”