THE SONESTA ES SUITES Windfall is an airport resort at 500 Kilvert St. in Warwick was lately offered for $5.2 million. / SCREENSHOT FROM GOOGLE MAPS

WARWICK. The property, which operates because the Sonesta ES Suites Windfall – Airport Lodge in Warwick, was lately offered for $5.2 million, in line with public paperwork confirming the deal.

500 Kilvert Avenue. The property, which consists of seven two-story buildings in-built 1989, was acquired earlier this month by Shivam RI Accommodations LLC, a restricted legal responsibility firm primarily based in Rutherford, New Jersey.

The resort was offered to Shivam by Hpt Ihg 2 Properties Belief, an affiliate of Newton, Massachusetts-based Sonesta Worldwide Accommodations Corp.

A spokesperson for Sonesta mentioned the resort will proceed to function underneath the identical identify and model with none interruption to the operation of the resort as a part of the franchise settlement reached with the brand new proprietor. Reservations can nonetheless be made by in addition to a number of third-party journey reserving websites for costs as little as $139 per evening.

Sonesta, which has 280 accommodations and lodging in eight international locations, acquired Warwick’s resort properties in 2017 when it beforehand operated as a Residence Inn. The resort was then rebranded as an extended-stay apartment-style resort for households searching for lodging throughout house renovations and for enterprise vacationers on lengthy enterprise journeys, and Sonesta promoted the positioning’s proximity to the company places of work of firms akin to Residents Financial institution, Textron. , Gilbane and United Pure Meals Inc.

Shivam RI Accommodations is affiliated with Allstar Accommodations LLC and New Jersey businessman Ronak Patel, who has additionally been concerned within the hospitality enterprise with different accommodations in Florida, Maryland, Ohio and Oklahoma. An try and contact Patel for remark earlier this week was unsuccessful.

Billing itself because the world’s eighth largest resort firm, Sonseta mentioned on its web site that greater than 1,200 areas function underneath considered one of its 12 resort manufacturers by comparable franchise agreements with resort property homeowners around the globe. This franchise portfolio now consists of 500 Kilvert St. property.

“Sonesta ES Suites Windfall Airport will stay underneath the identical model and identify as earlier than the sale,” mentioned Laurie Giuliano, a spokesman for the corporate.

In keeping with public information, the previous Residence Inn property was final valued by Warwick appraisers in 2021 at $6.26 million, greater than $1 million greater than the property’s latest sale. The earlier sale value, when Hpt Ihg 2 Properties Belief purchased the property in 2017, was $8.8 million.

Mark Larock is a PBN contributor.

Buy nowNeed to share this story? Click on right here to buy a hyperlink that enables anybody to learn it on any machine, whether or not or not they’re a subscriber.


Leave a Reply

Your email address will not be published.