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Travel & Tourism
Provo — Lodging Dynamics Hospitality Group has acquired its second hotel through its affiliated equity fund, LD Hotel Group I, LLC. The purchase was a 90-room Holiday Inn and Suites in Overland Park, Kansas.
The company owns and operates other extended-stay hotels in the Midwest, but this acquisition is its first entry in the Kansas market.
"We are excited to expand our Midwest presence into Kansas. Overland Park is a great business climate, and we look forward to being a part of it," said Joel P. Sybrowsky, president and CEO of Lodging Dynamics Hospitality Group.
The fund is raising $60 million to fund future acquisitions. The proceeds are intended for the acquisition of targeted U.S. hotel properties, including Marriott, Hyatt, Hilton and IHG select-service and extended-stay properties.