V2 Capital acquired the Courtyard Shelton, a 161-room select-service hotel in Shelton, Conn. Other terms and conditions. JLL and RobertDouglas represented the seller, Shelton Suites, LLC, an affiliate of Waterford Hotel Group in the transaction.
The seven-story property is located in Fairfield County and underwent a comprehensive $4.1 million renovation completed in 2023. The renovation included upgrades to all guestrooms, common areas and building systems, as well as the conversion of select guestrooms into an extended-stay format. The hotel now has 23 suites with full kitchens and extended-stay amenities alongside traditional king and double queen accommodations.
Prior to the sale, the hotel was professionally managed by Connecticut-based Waterford Hotel Group from 2015 through two ownership transitions, helping enhance the property’s performance and long-term asset value.
The Courtyard Shelton has 6,300 square feet of meeting and event space across multiple rooms capable of accommodating corporate meetings, conferences and social functions. Property amenities include The Bistro restaurant and bar featuring Starbucks specialty beverages, an indoor pool, fitness center, business center and outdoor patio. The hotel sits on 3.24 acres with convenient access to Interstate 95, the Merritt Parkway and Route 8.
The property benefits from proximity to major academic, corporate, healthcare and leisure demand drivers, including Yale and Fairfield University, the Yale New Haven Health system, and corporate headquarters for Sikorsky, BIC, Subway and Schick. Fairfield County is one of Connecticut's most economically dynamic regions with a $104 billion GDP and benefits from major infrastructure investments including corporate relocations and mixed-use developments in close proximity to the hotel.
Shelton's location provides access to more than 17 miles of Long Island Sound coastline. Local demand generators include the Sports Center of Connecticut, a multi-sport complex in Shelton that draws travel sports teams from across the region. The area is located between New York City and Boston along Interstate 95 and Amtrak's Northeast Corridor, with Metro-North rail service connecting to Grand Central Terminal.
The JLL Capital Markets team was led by Senior Managing Director Alan Suzuki, Managing Director Matthew Enright, Associate Hunter Cuthbertson and Analyst Alexa Amorosino. The RobertDouglas team was led by Principal and Managing Director Douglas Hercher and Managing Director Andrew Heilmann.
"Select-service hotels in supply-constrained markets with diverse demand generators remain among the most sought-after assets in hospitality investment," Suzuki said in a statement. "This property's proximity to major corporate headquarters, world-class universities and significant infrastructure projects positioned it as an attractive acquisition for operators seeking stable cash flow and long-term appreciation potential."