Ultima Hospitality has completed the acquisition of the DoubleTree by Hilton Hotel Boston – Westborough.
The investment and hotel management company chose to purchase the property after postulating a high growth rate for its market. Located in Westborough, Massachusetts, the hotel is approximately 35 miles west of downtown Boston and the fourth in a string of properties the company has recently purchased there. These sites include the Sheraton Framingham Hotel & Conference Center, the Courtyard Boston Marlborough, and the Sheraton Needham Hotel.
“We were very excited for the opportunity to acquire another institutional asset in a market we have had great success in,” says says Nir Liebling, chief investment officer of Ultima Hospitality. “This acquisition also continues to broaden our relationship with Hilton Worldwide, with this being our third hotel with a Hilton brand affiliation. Westborough and the surrounding areas have reached a critical mass of large corporate tenants that have recently made sizable investments in the area, signifying their long term commitment and providing a stable economic base and downside protection for years to come.”
Following a recent renovation to the DoubleTree by Hilton Hotel Boston – Westborough’s public areas and 13,300 square feet of meeting space, Ultima Hospitality plans to revamp all 223 of the hotel’s guestrooms.
