JV pays $78M for Ohio Marriott portfolio

Six hotels in Cuyahoga County, Ohio, under Marriott International‘s TownePlace Suites and Courtyard brands have been sold for $78 million to a joint venture between Aimbridge Hospitality and investment funds managed by BlueMountain Capital Management. The properties are part of an 11-hotel deal in Ohio that was recently closed by the joint venture. Aimbridge has said it would assume management of all the hotels. Read the Crain’s Cleveland Business story here