New Fortress Accommodations & Resorts Chosen to Handle 9 Widewaters Properties

Ridgefield, Conn. – New Fortress Accommodations & Resorts, a number one resort investor, developer and operator in the USA and Canada, introduced that it has been chosen to handle 9 motels owned by Widewaters, a diversified industrial actual property group with experience creating, buying and managing quite a few asset lessons throughout North America, together with retail, hospitality, residential and workplace/industrial. The administration change, efficient February 2023, will improve New Fortress’s portfolio to twenty-eight motels, comprising greater than 4,000 rooms throughout 11 states and two Canadian Provinces.

We’re thrilled to have been chosen to handle the Widewaters Lodge Portfolio, additional increasing our third-party administration enterprise and total presence within the Northeastern United States. We might be including super expertise that’s in place throughout a number of disciplines on the company and property ranges. That is an thrilling alternative to additional develop our administration workforce with seasoned hospitality professionals. Julian Buffam, Accomplice at New Fortress Accommodations & Resorts

New Fortress and Widewaters first joined forces within the late Nineteen Nineties to develop the Hampton Inn & Suites in Victor, N.Y., and have since developed 13 further motels within the Northeastern United States and Atlantic Canada with notable manufacturers together with Hilton Backyard Inn, Hampton Inn, Homewood Suites, Sheraton, Residence Inn, SpringHill Suites and Courtyard by Marriott.

The Widewaters Portfolio of 4 full-service and 5 select-service properties embrace greater than 1,200 rooms, six eating places, 85,000 square-feet of assembly house, a full-service spa and USGA-rated golf course. The portfolio spans 5 states together with:

  • Woodcliff Lodge & Spa – Fairport, N.Y.
  • Craftsman Inn & Suites – Fayetteville, N.Y.
  • Cherry Valley Lodge and Ohio Occasion Middle, BW Premier Assortment – Newark, Ohio
  • Aviator Lodge & Suites, BW Signature Assortment – St. Louis, Mo.
  • Hilton Backyard Inn – Pittsford, N.Y.
  • Hampton Inn & Suites – Victor, N.Y.
  • Hampton Inn – Solon, Ohio
  • Hampton Inn – Erie, Pa.
  • Hyatt Home – Herndon, Va.

This can be a super alternative to broaden our present partnership with Widewaters. Our familiarity with the portfolio and powerful presence within the Northeast will assist execute a easy transition and drive incremental asset worth development. The properties will additional profit from the depth and energy of our shared companies platform, which optimizes property stage focus and success via centralized efficiencies, controls and finest practices. New Fortress COO Guido Kerpel

Widewaters has an unimaginable pedigree of creating first-class resort property and plans to proceed to develop motels opportunistically with New Fortress, whereas shifting its core focus to increasing its multifamily portfolio. This enhanced partnership with New Fortress is the simplest solution to proceed to construct worth in our resort property, whereas aligning ourselves with an skilled and lively owner-operator for future resort improvement alternatives. Widewaters will preserve possession of the 9 properties, with present COO Bob Spoto transitioning to Head of Asset Administration and dealing with the New Fortress workforce to drive prime and bottom-line outcomes throughout our portfolio. Joe Scuderi, President of Widewaters

2022 has been a yr of serious development for New Fortress, having acquired the beachfront Vacation Inn Resort on Jekyll Island in Georgia and an unbiased resort in Texas that may be a part of Marriott’s Tribute Portfolio. Moreover, the agency assumed administration of two properties on Lengthy Island – the Residence Inn and Hilton Backyard Inn in Riverhead, N.Y. A number of acquisitions and improvement tasks slated for 2023 will see New Fortress enter markets in Nashville, Tenn.; Ft. Lauderdale, Fla.; and Montana.

Widewaters has just lately offered a number of resort properties, together with the 229-room Constitution Lodge Seattle, Curio Assortment by Hilton, and is presently pursuing multifamily alternatives within the Carolinas, Georgia, Florida, Utah and Arizona.

About Widewaters

Widewaters is a vertically built-in actual property group with greater than 50 years of expertise within the improvement, development, acquisition and administration of retail, hospitality, residential and workplace/industrial properties throughout North America. The corporate has developed or acquired greater than 13 million sq. toes of institutional high quality actual property property with a worth in extra of $2 billion. Leveraging entrepreneurial instincts, capital and experience, Widewaters continues to develop and purchase high-quality actual property throughout North America. Widewaters’ company workplace is in Syracuse, N.Y, with further operations in Charlotte, N.C. and Salt Lake Metropolis, Utah. For extra details about the corporate, go to www.widewaters.com

About New Fortress Accommodations and Resorts

New Fortress Accommodations & Resorts (NCHR) is a completely built-in, industry-recognized hospitality funding, improvement and administration firm with a 40+ yr observe report of executing advanced operational turnarounds, new development and historic redevelopments. NCHR’s present portfolio is architecturally and geographically distinctive, encompassing premium select-serve, full-service and resort properties within the U.S. and Canada, representing lots of the world’s main manufacturers. NCHR was based in 1980 by David Buffam and is predicated in Ridgefield, Conn. For extra details about the corporate, go to www.newcastlehotels.com or join on social media at https://www.fb.com/NewCastleHotelsResorts/ and https://www.linkedin.com/firm/new-castle-hotels-&-resorts/.

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