Excel Group Buys DE Marriott Hotel
- Nov 27, 2018
Excel Group has purchased Residence Inn Wilmington Downtown, a 96-key property in Wilmington, Del. This acquisition marks the company’s fourth big transaction of the year. The hotel operates as a Marriott franchise since opening its doors in March. Canon Hospitality Management manages the property.
Located at 1300 N. Market St., the property is the first hotel to open in downtown Wilmington in 20 years. Residence Inn Wilmington Downtown offers convenient access to various offices and restaurants, as well as to Philadelphia International Airport—situated 20 miles away.
The seven-story building includes a mix of studios and one-bedroom suites. Common-area amenities and services include:
- free Wi-Fi
- grocery delivery service
- 24-hour food and beverage market
- dry-cleaning service
- laundry room
- business center
- fitness center
Additionally, the hotel offers two meeting rooms totaling more than 1,500 square feet for up to 49 people.
“This investment aligns with our company’s investment strategy of acquiring premium-branded select-service assets in strong high barrier-to-entry urban and secondary markets,” Managing Partner Shoham Amin said in a prepared statement.
Image courtesy of Excel Group