Stamford Marriott Hotel Sold for $15M to California Investor

The Stamford Marriott Hotel & Spa, a familiar name in downtown Stamford, has just changed hands in a multimillion-dollar deal. The price? Only $15.25 million—a big drop from its $31.6 million sale back in 2018. People in Connecticut’s hotel and real estate circles are definitely talking.

This sale really highlights ongoing shifts in the hotel market and the city’s changing economy. It’s also a sign of the challenges around local property values these days.

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Major Price Cut in Stamford Hotel Sale

The hotel sits at 243 Tresser Boulevard. CHC Tresser Owner LLC, led by John Kline of Newport Beach-based Clearview Capital, now owns it.

Clearview Capital already runs about three dozen hotels across the country, so they’re simply adding Stamford to their growing list. The price they paid doesn’t just reflect a financial loss compared to 2018—it’s also way below Stamford’s own appraisal of $25.5 million.

That city valuation was already under fire last year. The previous owner, Stamford Hotel Propco (linked to GREF IV REIT OP LLC), challenged it in court and managed to knock $2 million off the number.

Historical Significance in Stamford

The Marriott opened in April 1977, starting out with just over 300 rooms. Its revolving restaurant, with sweeping views of Long Island Sound, made it a local standout.

Expansion came quickly. A parking garage arrived in 1980, then a second hotel building in 1985. The property really became part of Stamford’s hospitality scene.

Accessibility and Legal Agreements

The hotel’s story includes some legal milestones. In January 2023, the U.S. Attorney’s Office announced a settlement with the previous owners and former manager MJ Hotels.

They agreed to boost accessibility for guests with disabilities, bringing the hotel closer to ADA standards. That move pointed to the ongoing need for updates as rules and expectations keep changing.

Marriott’s Changing Role in Stamford

Marriott International still has branded hotels in Stamford, as well as in Norwalk, Bridgeport, and Greenwich. But its corporate footprint in Stamford has shrunk over the last decade.

This goes back to Marriott’s acquisition of Starwood Hotels, which used to employ a lot of people in the area. It’s a definite shift in the local hotel landscape.

Impact on Connecticut’s Hotel Industry

Real estate folks from Hartford to New Haven are watching this sale closely. That deep discount could mean headaches—or maybe opportunities—for investors eyeing big hotels in places like Waterbury, Danbury, and New Britain.

With travel habits changing, some hotel owners might need to rethink their long-term plans. Tourism, business trips, and remote work are all in the mix now.

Key Takeaways from the Stamford Marriott Transaction

Sale Price Decline: From $31.6 million in 2018 to $15.25 million in 2024.
Buyer: CHC Tresser Owner LLC, under Clearview Capital’s management.
Previous Owner: Stamford Hotel Propco, tied to GREF IV REIT OP LLC.
Historic Roots: Opened in 1977 with unique features like a revolving restaurant.
Expansion Milestones: Garage in 1980, second hotel building in 1985.
City Appraisal Dispute: $25.5 million valuation reduced by $2 million through litigation.
Federal Accessibility Settlement: Improving facilities for guests with disabilities.
Marriott’s Local Shift: Reduced corporate operations in Stamford after acquiring Starwood Hotels.

Looking Ahead for Stamford’s Downtown

Stamford’s downtown keeps changing, with new construction, restaurants, and apartment towers popping up. The Marriott’s new owners might invest in upgrades or try out new approaches to stay competitive in a tough market.

Stamford’s close to New York City and towns like Darien and Westport, so the hotel could draw both business and leisure guests. If the new team modernizes things, maybe the Marriott will regain its spot as one of Connecticut’s top urban hotels. We’ll see.

Conclusion

The sale of the Stamford Marriott Hotel & Spa isn’t just another real estate deal. It’s a snapshot of shifting market trends and changing business moves.

This iconic property now plays a new role in Connecticut’s economic landscape. Cities like Hartford and Bridgeport might be watching with curiosity—maybe even a little skepticism—to see if this sparks a fresh wave of hotel investment across the state.

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Here is the source article for this story: Stamford Marriott Hotel sold for $15M, a steep discount, to California investor

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