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Woodmont Lodging, Milestone Companies and Blue Vista Capital Management Complete Joint Acquisition

Thursday, October 10, 2019
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Woodmont Lodging
Woodmont Lodging
Hotel Investment & Management Company

PITTSBURGH—Woodmont Lodging, a leading hotel company, and Milestone Companies, a premier full-service real estate development company specializing in hotel assets, today jointly announced the completed acquisition of the 98-room Fairfield Inn & Suites Pittsburgh Downtown. Woodmont Lodging will provide asset management services, and Milestone Hospitality will deliver property management services to the newly constructed hotel.

“We continue to seek premium-branded assets in compelling markets with multiple demand generators capable of better weathering any potential economic downturns,” said Elliott Estes, principal, Woodmont Lodging. “Pittsburgh is a dynamic market, the hotel has incredible river views and is surrounded by a variety of Fortune 500 companies, universities, hospitals and a growing tech corridor. The hotel is the newest property in Pittsburgh, providing business and leisure guests with the latest amenities.”

Located at 435 Fort Pitt Boulevard, the seven-story hotel is proximate to such local attractions as PNC Park, Heinz Field and the David L. Lawrence Convention Center. The hotel provides customers with fantastic waterfront views along the Monongahela River and ease of access to the Station Square entertainment and retail district. Each room and suite provide oversized workspaces with ergonomic chairs, complimentary high-speed Wi-Fi, cotton-rich linens and a comfortable pillow top mattress for relaxation. Hotel amenities include a 24/7 fitness center, guest laundry, sundry store and a daily, complimentary hot breakfast. The hotel hosted its grand opening in October 2019 after two years of construction.

“This acquisition marks our second Fairfield Inn & Suites and our third Marriott-branded hotel,” Estes added. “We are confident that our familiarity with the brand, coupled with Milestone’s expertise and comprehensive approach to property management, will allow us to quickly ramp up operations and position the hotel as the upper midscale destination of choice for visitors to the area.”


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