Courtyard Cleveland Beachwood, a 113-room Beachwood hotel, is being bought by Hospitality Ventures Management Group, an Atlanta-based, private hotel investment, ownership and management company.
The purchase is in conjunction with Investra Capital Group Ltd. through its Investra Capital Inc., subsidiary, a private equity real estate investor and asset manager. It’s part of a 12-hotel deal comprising Marriott- and Hyatt-branded hotels across the country. Hospitality Ventures will operate the entire portfolio.
“As we grow our footprint into the U.S., our acquisition philosophy aligns with HVMG’s, as we both remain focused on assets in strong secondary and tertiary markets flanked by strong corporate, government, health care and university demand generators,” Investra Capital CEO Mobeen Jassat said in a statement.