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GreenLake Funds $24,400,000 for Dual Branded Marriott Hotel Development in Barstow, California
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BARSTOW, Calif., June 3, 2021 /PRNewswire/ Los Angeles based GreenLake Asset Management LLC ( GreenLake ) announced it has funded a $24,400,000 development project to build a 181 room Marriott hotel on 3.3 acres of land in Barstow, CA. The property will be a dual branded hotel: Townplace Suites by Marriott and Fairfield Inn & Suites by Marriott, due to open in early 2023.
San Diego based Hotel Investment Group ( HIG ) saw the opportunity to bring the Marriott brand into the Barstow market, where Marriott has no presence. GreenLake provided funds that will enable HIG to develop the project and capitalize on contract business from the US government and large utility operators in a largely untapped market.