Ultima’s Shopping Spree in Suburban Boston
- Jul 09, 2015
By Veronica Grecu, Associate Editor
An investment and hotel management company scored again in suburban Boston with the acquisition of the DoubleTree by Hilton 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.
“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