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| Location: | Annapolis, MD |
| Rooms: | 150 |
| Equity Invested: | $6.5 MM |
| Proceeds: | $32.8 MM |
Investment Results
- 28.7% IRR
- NOI per available room increased by approximately 182% Year 1 to Year 4
- Highest profit margin in Marriott system
Opportunity
- Excellent location on the water in a high barrier to-entry market
- Previously lost Brand Franchise with major PIP required
- Reconfiguration of rooms, restaurant and public areas required
Value Added
- Elevated brand franchise
- Moved restaurant to the waterfront, added guest rooms
- Restructured sales and marketing efforts