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A privately-held investment firm has acquired Choice Hotel’s Quality Inn & Suites in Niagara Falls.
The deal marks the fourth Niagara hotel in K2 Group’s portfolio.
“K2 Group continues to grow its hospitality division of high-quality, well-located assets with strong demand generators, particularly in drive to leisure markets like Niagara Falls, which attract over 13 million visitors annually,” Kailash Kasal, president of K2 Group, said in a press release.
He said the hospitality industry is in a sustained recovery cycle, which is boosting “hotel fundamentals.”
“We continue to believe hotels, which are an effective inflation-hedging investment, will remain among the strongest real estate sectors for investing,” he said.
The Quality Inn & Suites is an 84-room property on Ferry Street.
K2 Group holds investments under the umbrellas of hospitality, petroleum and senior living.
