Burlington private equity firm buys Worcester hotel for $20.4M
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The Residence Inn by Marriott Worcester
The Residence Inn by Marriott Worcester is under new ownership, following a $20.35-million sale.
The 129-room hotel located at 503 Plantation St. near the campus of UMass Chan Medical School was sold in a deal finalized on Dec. 17 to an entity managed by AAM 15 Management, according to Worcester District Registry of Deeds records.
AAM 15 Management is a Burlington-based private equity firm with a diverse portfolio, including the Worcester location of Kelly’s Roast Beef and Seafood which opened in September. Ranging from restaurants to hotels to multi-family residential buildings, the firm owns 23 total properties, according to its website.
This sale represents AAM 15’s first hotel purchase in Central Massachusetts.
The hotel property was sold by NEP Worcester MA Owner LLC, an entity managed by Highgate, a Texas-based hospitality investment and management firm. Highgate purchased the property for $22 million in 2015, according to City of Worcester property records.
Constructed in 2005, the 94,000-square-foot, extended-stay hotel features amenities including fully-equipped kitchens, a fitness center, and a pool.
The 7.3-acre property was given a tax assessment value of $15.84 million for 2025, according to City property records.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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