The Veridea Group has expanded its hospitality division with the recent acquisition of the Residence Inn, Helena, Montana. Opened in 2010, the 91-room property is the premier hotel in the Helena market. Part of the Marriott family, Residence Inn is an all-suites extended stay hotel. Each room features a full kitchen as well as separate living and sleeping areas.
“We are extremely pleased to have completed this acquisition and are excited to enter the Helena market,” said Veridea President and CEO, Robert Mahaney. “This purchase provides us access into a strong and growing market in Helena, as well as entrée into the Mountain West region, an area that we feel holds great potential and is similar in many ways to our Upper Midwest locations.”
Mahaney also noted that the acquisition allows Veridea to gain geographic and segment diversification with support from the existing hotel staff, which he praised for their professionalism.
“With this acquisition, we inherit a very talented hotel staff that has been recognized nationally for their excellence,” Mahaney said.
The capital of Montana, Helena has a diversified economy centered on professional services, federal regional offices, aerospace and tourism. Helena is also the home to Carroll College and Helena College, part of the University of Montana system.
With the Helena acquisition, Veridea’s hotel portfolio expands to six properties in Michigan and Montana. Based in Marquette, MI, Veridea is a commercial real estate development and hotel management company with over $200 million of development experience.