TAMPA, FL— Liberty Group, based here, has acquired a portfolio of three Marriott-branded hotels throughout the Southeast: the 79-room Fairfield Inn & Suites Gulfport, MS; the 79-room Fairfield Inn & Suites Hattiesburg, MS; and the 78-room Fairfield Inn & Suites Louisville, KY. The hotels were part of a 26-hotel portfolio previously purchased by Goldman Sachs for $300 million in 2007.
The hotels will be managed by Liberty Hospitality Management and undergo significant capital improvements as part of the investment strategy.
The acquisition marks the full investment of Liberty Hospitality Fund I, which closed in 2014 and had a three-year investment period with $75 million in total capital commitments. Over the past 16 months, Liberty Group has acquired or opened 10 hotels representing approximately $100 million in investments. The acquisition also commemorates Liberty Group’s 50th hotel acquisition since its founding 35 years ago.