HEI Hotels & Resorts (HEI), a socially responsible investor and employer in the hospitality industry, today announced that the company is under contract to acquire the SpringHill Suites by Marriott Newark Liberty International Airport for an undisclosed amount. The hotel will be the tenth acquisition by HEI's Fund III and the 13th hotel in the Marriott brand family in HEI's 42-property portfolio.

The 200-room all-suites select-service hotel is located immediately north of Newark Airport, New York City's second-largest airport with more than 33 million passengers annually, and near Port Newark, North America's third-largest seaport.

"We have great confidence in the New York City metropolitan market and are excited about acquiring this well positioned hotel at Newark Airport," said Steve Mendell, president, acquisitions and development. "With plenty of dry powder left in Fund III, we continue to seek and acquire institutional grade assets in growth markets throughout the US."

The hotel offers three meeting rooms with a total of 1,900 square feet of function space. Additional amenities include lobby lounge with complimentary breakfast, indoor swimming pool and whirlpool, fitness facilities and a business center.

The hotel is currently in the process of receiving a substantial interior renovation involving all areas of the hotel seen and touched by guests, as well as, the back-of-house facilities used by the hotel's associates. Upon completion, the hotel will meet all SpringHill Suites by Marriott's most current design features.

About HEI Hotels & Resorts

HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality investment and management company that owns or operates approximately 100 luxury, upper-upscale and upscale independent and branded hotels and resorts throughout the United States. HEI's branding partners include Marriott, Hilton, Hyatt, IHG, Choice and Wyndham. The company is renowned for its commitment to its associates under the culture of HEI Loves, its revenue management, profit contribution and empirically based real estate value creation, driven by a full complement of proprietary software tools to set and exceed targets on a fully integrated basis. HEI works hand-in-hand with institutional capital partners on existing assets under management as well as sponsored acquisition opportunities. The company has ample equity capital and strategically co-invests with its partners on many transactions.  To learn more about HEI, please visit www.heihotels.com.