Overview
- The 122-key, all-suite property opened in 2018 operates as a soft-branded Residence Inn and is the only Marriott-branded hotel in northern Sonoma.
- AWH cites a price of about $311,475 per key, compared with an estimated local replacement cost above $500,000 per key.
- Spire Hospitality, AWH’s wholly owned operator, will manage the hotel after closing.
- Company projections call for an average annual dividend above 8% and a projected net levered IRR of about 17.4%.
- The acquisition follows the firm's November 2024 purchase of a dual-branded Residence Inn/Fairfield Inn & Suites in Broomfield, Colorado, marking its second major deal since June 2022.