The 10-story, 273-suite Embassy Suites opened in February 2003 and is located on Massport property abutting the grounds of Boston's Logan Airport near the Ted Williams Tunnel entrance. It is located one mile from Downtown and the new Boston Convention and Exhibition Center, which is expected to be completed in the second quarter.
Developed on a 99-year ground lease, the hotel features 8,000 sf of meeting space, an indoor swimming pool and a fitness center. PM Hospitality Strategies manages the hotel property.
"Similar to the strategy we have applied with our mezzanine loan purchases, we wanted to ensure that this mezzanine origination enjoyed strong sponsorship, a proven brand and conservative underwriting," says Monty J. Bennett, president and CEO of Ashford Hospitality Trust, a self-administered REIT focused exclusively on investing in the hospitality industry.
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