A Canadian private hotel company has acquired the Hampton Inn & Suites Buffalo Airport from the Washington, D.C.-based firm that developed it five years ago.
Manga Hotels of Mississauga, Ont., which already owns a new Aloft Hotel near the Buffalo Niagara International Airport, paid $12.15 million on Monday to buy the 109-room Hampton from Buffalo Airport Hotel, an affiliate of Greenbelt, Md.-based Baywood Hotels .
Located at 133 Buell Ave. near Genesee Street, the $6.5 million hotel was built in 2012 by Baywood, using an $8.588 million building loan, after it purchased the 3.38-acre property from Ciminelli Real Estate Corp. affiliate Concourse Center II in May 2011 for $1.475 million.
Besides the rooms and suites, the hotel includes an indoor saltwater pool and fitness center, a business center, and a 600-square-foot meeting room for 30 people.
Manga President and CEO Sukhdev Toor said the company now plans to spend about $1.5 million on renovations to "bring it up" to a new level. That will include new carpeting and wallpaper throughout, as well as refreshed decorations in the lobby area.
Founded in 1975 with one independent motel in Laurel, Md., near Baltimore, Baywood now owns and operates more than 100 hotels in 16 states, Washington, D.C., and even India. Its $1 billion-asset portfolio includes hotels in 15 well-known brands under the Marriott International, Hilton Hotels and InterContinental Hotels Group families. The fast-growing company has regional offices in Herdon, Va.; Miami; San Antonio; Aurora, Colo., and Pittsford, N.Y., outside of Rochester.
Manga is a smaller company, with about 18 hotels under the Marriott, Hilton and InterContinental flags in Canada and the United States, including Hampton Inn, Residence Inn, Hilton Garden Inn, Doubletree by Hilton, Holiday Inn, Fairfield Inn, Homewood Suites and Delta Hotel. Aside from the two in the Buffalo area, its hotels are located in Ontario, Nova Scotia, New Brunswick and Newfoundland.
Noting that Manga already build the Aloft from the ground up, he said the company finds Buffalo an attractive market, especially because of its proximity to Manga's home base. "It's a good brand, and it's not too far from Toronto," he said.
However, there are no plans at this time for further development or acquisitions in the Buffalo market.
"We think downtown Buffalo is doing much better than before, and coming up strong," Toor said. "If something comes up in downtown, we would like that, too, but there's not much available now."