This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Sage Hospitality And Whitman Peterson Kick-Off Investment Partnership With Portfolio Acquisition

DENVER, March 25, 2013 /PRNewswire/ -- Sage Hospitality, one of the leading hotel investment and management companies in the U.S., announced the purchase of seven Courtyard by Marriott hotels in partnership with Whitman Peterson.  The purchase marks the onset of a programmatic, highly-focused investment strategy between Sage and Whitman Peterson, wherein they plan to acquire a sizable portfolio of select-service hotels in need of high-impact capital, operational, and/or brand improvements. 

This first portfolio of hotels, purchased from Clarion Partners and C-III Capital Partners, will bring Sage's management portfolio up to more than 60 hotels nationwide.  The properties are located in desirable, business-oriented submarkets of Atlanta, Ga., Dallas, Texas, Detroit, Mich. and Cleveland, Ohio.  Each hotel will receive significant capital for complete guestroom and public space renovations, which include the addition of the Marriott Courtyard Refreshing Business Lobby (including the "Bistro" dining concept) to assist in repositioning each property.  Once completed, these hotels will be better equipped to regain their leading positions within each submarket and take full advantage of their prime locations and strong brand.

"This transaction represents precisely the type of opportunity on which Sage and Whitman Peterson are uniquely qualified to execute," said Michael Everett, Chief Investment Officer at Sage Hospitality.  "Our national investment, operating, and capital projects teams allow us to source, reposition, and efficiently operate one-off assets or large portfolios across the country – and having a significant allocation of capital toward this effort really opens up great opportunities for us." 

The seven properties joining Sage Hospitality are:- Courtyard Atlanta Norcross/ Peachtree Corners- Courtyard Marietta Windy Hill- Courtyard Atlanta Marietta/I75 North- Courtyard Dallas Addison/Midway- Courtyard Dallas LBJ at Josey- Courtyard Detroit Southfield- Courtyard Cleveland Beachwood

To learn more about Sage Hospitality and to view the management company's full portfolio, visit

SOURCE Sage Hospitality

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs