Waterford Hotel Group Inks Two Hotel Management Deals

Based on the terms of the contracts, Waterford Hotel Group took over the management of the two Courtyards on March 1. The firm now has a management portfolio of 29 hotels, 15 of which are Marriott-brand facilities. The firm also operates franchise properties for Starwood, Six Continents, Choice, Cendant and Radisson.

"We are honored to join forces with the Fine family and the entire FFC team in what we believe will be a successful business relationship," said Robert Winchester, president and chief operating officer of Waterford Hotel Group. "We are looking forward to working with and assisting the staffs of these two Courtyard properties. Our extensive experience with the Courtyard brand makes Waterford the right choice to manage these facilities," he added.

FFC Hospitality LLC is a division of FFC Capital Corp., a real estate investment firm. FFC was formed in 1998 by Chairman Milton Fine, who co-founded Interstate Hotel Co. in 1960.

The Courtyard by Marriott in Orange, CT is a 121-room hotel that features meeting facilities, high-speed Internet access, in-room valet, an outdoor pool, an exercise room and a whirlpool. The Westborough Courtyard totals 98 rooms and features meeting space, a Courtyard Café and a cocktail lounge.

Waterford Hotel Group manages 17 hotel properties in the state of Connecticut, including the 285-room Mystic Marriott Hotel & Spa in Groton, the 127-room Sheraton Four Points in Norwalk and the Residence Inn by Marriott in Danbury, which features 78 suites.

Later this year, Waterford Hotel Group will take on the management responsibilities at the new Courtyard by Marriott in Warwick, R.I. The $9.4 million Warwick Courtyard by Marriott hotel is being developed by a partnership of Waterford Group, LLC, which includes some principals of Waterford Hotel Group parent, the Waterford Group. Other partners in the venture include Michigan-based Slavik, Inc., and Connecticut developer Glenn Jette. Waterford Hotel Group officials say the 92-room hotel facility should open its doors for the first time this spring.