Dive Brief:
- West Anderson Partners acquired the Graduate by Hilton Storrs in Storrs, Connecticut, according to a Tuesday news release. Terms of the transaction were not disclosed.
- The 100-key lifestyle property is located on the University of Connecticut campus and is one of the main lodging choices for university visitors and alumni who attend campus-related events, per the release.
- The private hospitality-focused real estate investment firm said in the release that the acquisition was part of a larger strategy to expand its presence in the Northeast and invest in “institutionally branded hospitality assets located in university-anchored markets.”
Dive Insight:
The hotel, which features event spaces and a signature restaurant, intends to serve as a focal point for the greater Storrs community, per the release. West Anderson Partners added that the deal “reinforces its approach of selectively acquiring hotels in markets supported by higher education, medical, and durable demand anchors.”
Steve Anderson, co-founder and managing partner of West Anderson Partners, said in the release that his firm planned to invest in property enhancements “while continuing to support operational excellence” and guest services.
“We look forward to further cultivating our relationship with the university, ensuring the property remains a vital hub for campus life and a premier destination for alumni, students, and visitors,” Anderson said.
As part of the larger Graduate by Hilton portfolio, the hotel benefits from its strategic proximity to the university’s campus and its “deep integration into the surrounding academic ecosystem,” the company said in the release. The property also incorporates design elements that reflect its college location.
“The acquisition of this high-quality hotel reflects our continued conviction in university-oriented hospitality assets with strong brand affiliation and year-round demand drivers,” Dylan West, co-founder and managing partner at West Anderson Partners, said in the release. “Graduate by Hilton Storrs sits at the center of a flagship university, and benefits from a combination of strong market fundamentals, prime location, and brand, supporting long-term ownership."
Hilton acquired Graduate Hotels from Adventurous Journeys Capital Partners in 2024 for $210 million in a deal that included rights to the brand worldwide and the ability to enter into franchise agreements. AJ Capital maintained ownership of the real estate and management for the 33 Graduate properties, per terms of the acquisition.
Graduate by Hilton is one of several hospitality groups focused on colleges and college towns, including Brick Hospitality Group, Charlestowne Hotels and Scholar Hotels.
