January 18, 2017

Veridea Group Acquires Bozeman, Montana, Residence Inn

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Veridea Group Acquires Bozeman, Montana, Residence Inn

MARQUETTE, MI The Veridea Group has expanded its hotel holdings with the recent acquisition of the 115-room Residence Inn by Marriott located in Bozeman, Montana. The hotel was purchased from MCR Development of New York in December for an undisclosed amount.

The Bozeman Residence Inn acquisition represents the third addition to Veridea’s hotel portfolio in the past year.  It is Veridea’s second hotel in Montana, and now gives the company a presence in two of Montana’s principal markets.

“This is a very strategic acquisition for Veridea, and coupled with our Helena Residence Inn, gives us a solid foothold in the Mountain West to pursue additional opportunities as well as complement our strong Michigan properties,” stated Veridea’s President, Robert Mahaney.  “We have added an excellent hotel in one of the nation’s fastest growing communities.”

Bozeman is home to Montana State University – a research-focused institution with 16,400 students on campus, a regional medical center, over 30 tech-based businesses, and a strong tourism industry anchored by Yellowstone National Park and Big Sky Ski Resort.

Veridea will invest an additional $2 million in renovations and upgrades to the property, including a new exterior façade, lobby and room furnishings.

With this acquisition, Veridea now operates five hotels in Upper Michigan and Montana, with a sixth currently under construction in Albion, Michigan.  Based in Marquette, Michigan, the company is a leading commercial real estate development and hotel management firm with over $250 million of projects completed to date.  For more information visit verideagroup.com, email to inquiries@verideagroup.com, or contact Michele Thomas at (906)228-3900.