US Hotels Group, Kennebunkport, Maine, announced on Monday that it bought two lifestyle hotels from asset management firm Carlyle Group.
US Hotels Group bought a 90% stake in the 49-room The Orchards, located in Williamstown, Massachusetts, and the 32-room The Centennial, located in Concord, New Hampshire, for an undisclosed sum. The remaining 10% will continue to be held by Hay Creek Hospitality, Exeter, New Hampshire.
“As a New England-based hospitality company we see these acquisitions as a natural fit. We shall continue to develop US Hotels through both acquisition and management contracts across the United States,” said Paul Hanley, US Hotels Group CEO.
Hanley said US Hotels has no plans to renovate or rebrand either of the properties, which have a mix of business and leisure guests.
“The Centennial is a classic piece of architecture and is very conveniently located near a high concentration of government offices, and Concord is a great tourism destination. The Orchards is immediately adjacent to Williams College and is situated in Berkshires, a great touristic destination,” said Hanley.
US Hotels is the owner of the Vanderbilt Grace in Newport, Rhode Island, which is managed by US Hotels’ sister company, Grace Hotels. Both US Hotels and Grace Hotels are owned by Libra Group, a privately held conglomerate owned by the Greek-American Logothetis family.
Editor’s note: Click here to read a profile of Grace Hotels in the October 2011 issue of HOTELS Magazine.