Tuesday, June 4, 2024 Virga Capital, a prominent real estate investment and development firm based in Bozeman, Montana, has announced the acquisition of the Residence Inn by Marriott Boise West. This strategic move, in partnership with Resolute Road Hospitality, marks Virga Capital’s first foray into the hospitality sector in Boise, reflecting its ambitions to broaden its footprint across the Intermountain West. This acquisition aligns with a period of robust market growth.
Recently, Boise was named one of the 12 Best Places to Live in the U.S., highlighting its status as a vibrant center for growth and opportunity.
The tourism sector, now the third-largest industry in Idaho, generates over $3.7 billion annually according to the U.S.
Travel Association. With strong job growth projections for the next decade, the city is becoming increasingly attractive to investors and businesses nationwide. “It’s exciting to expand our hospitality footprint into Boise as this market continues to grow,” said Rob Lateiner, CEO at Virga Capital.
“Partnering with a respected management company like Resolute Road Hospitality aligns perfectly with our commitment to providing exceptional on-the-ground service and in line with Marriott’s high standards for guest experience.” The 104-room Residence Inn is ideally located near major attractions such as Boise State University, Boise Towne Square mall, Boise Airport, Downtown Boise, and Micron Technology Inc. Its extended-stay accommodatio.