Reading Time: 2 minutes
Virga Capital, a prominent real estate investment and development firm based in Bozeman, Montana, has announced the acquisition of the Residence Inn by Marriott Boise West. This strategic move, in partnership with Resolute Road Hospitality, marks Virga Capital’s first foray into the hospitality sector in Boise, reflecting its ambitions to broaden its footprint across the Intermountain West.
This acquisition aligns with a period of robust market growth. Recently, Boise was named one of the 12 Best Places to Live in the U.S., highlighting its status as a vibrant center for growth and opportunity. The tourism sector, now the third-largest industry in Idaho, generates over $3.7 billion annually according to the U.S. Travel Association. With strong job growth projections for the next decade, the city is becoming increasingly attractive to investors and businesses nationwide.
“It’s exciting to expand our hospitality footprint into Boise as this market continues to grow,” said Rob Lateiner, CEO at Virga Capital. “Partnering with a respected management company like Resolute Road Hospitality aligns perfectly with our commitment to providing exceptional on-the-ground service and in line with Marriott’s high standards for guest experience.”
The 104-room Residence Inn is ideally located near major attractions such as Boise State University, Boise Towne Square mall, Boise Airport, Downtown Boise, and Micron Technology Inc. Its extended-stay accommodations and modern amenities are designed to meet the needs of both business and leisure travelers seeking comfort and convenience.
“We are delighted to announce our partnership with Virga Capital and assume management of the Residence Inn Boise West,” said Gary Horton, President of Resolute Road Hospitality. “We look forward to delivering exceptional guest experiences while maximizing the hotel’s value in Boise’s vibrant hospitality market.”
Virga Capital’s business plan includes a comprehensive renovation of both the interior and exterior of the Residence Inn, aimed at enhancing the guest experience and reinforcing the property’s reputation as a top choice for visitors to Boise.
The post Growth in Boise Attracts Virga Capital’s Investment in Residence Inn by Marriott appeared first on Travel And Tour World.