ALBUQUERQUE, N.M. — Two hotels near the Albuquerque International Sunport have been sold to a Florida investment group.
Boca Raton-based Waramaug Hospitality, in a joint venture with an unnamed institutional investor, said in a statement it has acquired the Hilton Garden Inn Albuquerque Airport and Homewood Suites by Hilton Albuquerque Airport.
The 107-room Hilton Garden Inn is located at 2601 Yale Blvd. SE. The 93-room Homewood Suites by Hilton is located at 1520 Sunport Place SE.
Waramaug is planning a renovation of both properties this year, according to a news release.
Sales prices were not immediately available.
The most recent owners of the Yale Boulevard property are Primetime Hospitality Inc. and Legacy Hospitality LLC, according to the Bernalillo County tax rolls. The property has an appraised value of $4 million. The assessor’s office showed no assessment on the 1520 Sunport property.
“The Hilton Garden Inn and Homewood Suites are premier properties in the airport submarket, the strongest in the metropolitan area,” said Craig Nussbaum of Waramaug in a statement. “The Albuquerque region as a whole has shown continued growth with the revitalization of the downtown area as well as a significant amount of new development outside of the urban core. We are pleased to add these premium Hilton-branded hotels to our portfolio.”
Terrapin Investments and Management Corp., of Aspen, Colorado, has been retained to manage the hotels.
According to its website, Waramaug Hospitality’s portfolio comprises 42 hotels totaling 5,061 rooms. Waramaug said it focuses on acquiring legacy-branded hospitality assets throughout the United States.