M&A Deal Summary

Commonwealth Hotels Acquires Residence Inn Houston-West University

On December 12, 2022, Commonwealth Hotels acquired leisure company Residence Inn Houston-West University from Marriott

Acquisition Highlights
  • This is Commonwealth Hotels’ 2nd transaction in the Leisure sector.
  • This is Commonwealth Hotels’ 2nd transaction in the United States.
  • This is Commonwealth Hotels’ 2nd transaction in Texas.

M&A Deal Summary
Date 2022-12-12
Target Residence Inn Houston-West University
Sector Leisure
Buyer(s) Commonwealth Hotels
Sellers(s) Marriott
Deal Type Divestiture

Target

Residence Inn Houston-West University

Houston, Texas, United States
Residence Inn Houston-West University offers 120 spacious suites for the longer stay traveler with home-like amenities to ensure they can continue their daily routine on the road. Each suite has separate living and sleeping areas, fully equipped kitchens, and will accommodate guests for a few days or a few weeks, or longer. The hotel also offers complimentary grocery shopping service. Residence Inn Houston-West University is based in Houston, Texas.

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Buyer(S) 1

Buyer

Commonwealth Hotels

Covington, Kentucky, United States
Category Company
Founded 1986
Sector Leisure
DESCRIPTION

Commonwealth Hotels provides hotel management services with superior financial results. Commonwealth Hotels has extensive experience managing premium branded full service and select service hotels. Commonwealth Hotels currently manages 51 properties with over 6,000 rooms. Commonwealth Hotels was founded in 1986 and is based in Covington, Kentucky.

DEAL STATS #
Overall 2 of 2
Sector (Leisure) 2 of 2
Type (Divestiture) 2 of 2
State (Texas) 2 of 2
Country (United States) 2 of 2
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-12 Courtyard Houston-West University

Houston, Texas, United States

Courtyard Houston-West University offers 100 comfortable and serene guestrooms including a king bed with a sleeper sofa or two double beds perfect for the business traveler. Courtyard Houston-West University is based in Houston, Texas.

Buy -

Seller(S) 1

SELLER

Marriott

Bethesda, Maryland, United States
Category Company
Founded 1927
Sector Leisure
Employees411,000
Revenue 23.7B USD (2023)
DESCRIPTION
Entrance to Marriott's corporate headquarters in Bethesda, Maryland.
Entrance to Marriott's corporate headquarters in Bethesda, Maryland.

Marriott is a worldwide operator, franchisor, and licensor of hotels and timeshare properties under numerous brand names at different price and service points. Marriott also operates, markets, and develops residential properties and provide services to home/condominium owner associations. Marriott was formed in 1927 and is based in Bethesda, Maryland.

DEAL STATS #
Overall 5 of 5
Sector (Leisure) 4 of 4
Type (Divestiture) 4 of 4
State (Texas) 2 of 2
Country (United States) 5 of 5
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-12 Courtyard Houston-West University

Houston, Texas, United States

Courtyard Houston-West University offers 100 comfortable and serene guestrooms including a king bed with a sleeper sofa or two double beds perfect for the business traveler. Courtyard Houston-West University is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-12 Postcard Cabins

New York, New York, United States

Postcard Cabins is a designer and operator of tiny house rentals in beautiful rural areas just outside major cities. Postcard Cabins places their custom-built homes, each between 160 and 200 square feet, on secluded land in wooded, natural landscapes and rents them out by the night to those looking to easily escape their daily routines and experience the restorative benefits of nature. Postcard Cabins was founded in 2015 and is based in New York, New York.

Buy -
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