Arbor Lodging Partners has acquired a 12-hotel national portfolio in a joint venture with GFH Financial Group B.S.C., according to the company. Financial terms were undisclosed. With its $135 million portfolio acquisition of six hotels last April, this brings the Chicago-based hotel investment and management company's expansion to 37 full-service and select-service properties comprising nearly 5,000 rooms across 21 markets in 15 U.S. states. The hotels will be managed by its affiliate Arbor Lodging Management.
Among the hotels in the acquisition are the Hilton Garden Inn and Springhill Suites in Pasadena, Calif.; the Hampton Inn and Hilton Garden Inn in Irvine, Calif.; and the Courtyard Inn and Residence Inn in Harford, Conn. The company will begin renovations of various scopes at each property.