Ultima’s Shopping Spree in Suburban Boston

A Chicago-based investment and hotel management company scored again in suburban Boston.

An investment and hotel management company scored again in suburban Boston with the acquisition of the DoubleTree by Hilton Hotel Boston – Westborough.

DoubleTree by Hitlon Hotel Boston - Westborough

DoubleTree by Hitlon Hotel Boston – Westborough

The full-service hotel located at 5400 Computer Dr. in Westborough, roughly 33 miles from The Hub, is now owned by Ultima Hospitality. The Chicago-based company declined to disclose the transaction price. According to PropertyShark data, Ultima bought the hotel from an entity identified as Ivc Whh WestboroughLLC.

Completed in 1985, the 223-room hotel sits on a 304,920-square-foot parcel with immediate access to the junction of routes 9 and 495, and within close proximity to major employers including Bose Corporation, Simplivity and eClinicalWorks. DoubleTree by Hilton Hotel Boston – Westborough also offers 13,300 square feet of meeting space, a full bar and restaurant, an indoor swimming pool, a complimentary fitness center, 24-hour business center, as well as 407 surface parking spots.

As detailed by the new owner in a press release, the four-story hotel recently completed a renovation of the public areas and meeting space. As a follow up, Ultima plans to renovate the guestrooms in an effort to reposition the hotel as a market leader.

Sheraton Needham Hotel - Needham

Sheraton Needham Hotel – Needham

“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,” said Nir Liebling, chief investment officer of Ultima Hospitality.

DoubleTree by Hilton Hotel Boston – Westborough marks Ultima’s fourth acquisition in the Boston area this year. Last month, Ultima purchased the 247-room Sheraton Needham Hotel in Needham, located just miles from downtown Boston and Cambridge. The company already owns the Sheraton Framingham Hotel & Conference Center and Courtyard by Marriott, in Marlborough.

Images courtesy of DoubleTree by Hilton and Sheraton Needham Hotel