Merrimack County Savings Bank Provides $3.9 Million Loan to Roedel Partners of Merrimack, LLC

Funds to support the purchase and renovation of the Fairfield Inn into a new Holiday Inn Express & Suites

MERRIMACK, NH – Merrimack County Savings Bank secured a $3.9 million loan to Roedel Partners of  Merrimack, LLC, the wholly owned subsidiary of Roedel Companies. The loan helped finance the purchase of the Fairfield Inn in Merrimack and will aid in its transformation to a Holiday Inn Express & Suites. The hotel will open to the public in September 2012.

Located at exit 11 off the Everett Turnpike in Merrimack, the new Holiday Inn Express & Suites will have a completely renovated interior. The hotel will feature 100 newly furnished guestrooms, a spacious lobby, expanded business center and a new fitness facility. The building’s traditional New England exterior will be preserved while new landscaping and a portico will be added to enhance its façade.

The developer, Roedel Companies, is utilizing its subsidiary companies to complete the renovations and manage the Holiday Inn Express & Suites. RGH Hospitality, the hotel management subsidiary of Roedel Companies, will run the Holiday Inn Express & Suites on behalf of the ownership. ROK Builders, the wholly owned hotel construction management subsidiary of Roedel Companies, will oversee the renovation. Other companies partnered with the project are RSJ Associates and Group One Architecture.

David Roedel, Partner of Roedel Companies explained that their interest in acquiring the property stemmed from its location and the need for an upscale, business class hotel. “Merrimack County Savings Bank has afforded us the opportunity to purchase the property below replacement cost and put together a team of experts, all under one roof to renovate, reposition and operate,” stated Roedel. “We look forward to modernizing the building from the inside-out to better suit the needs of today’s business and leisure travelers.”

Positioned just two miles from the Merrimack Premium Outlets and less than 10 miles from the Manchester-Boston Regional Airport, the Holiday Inn Express & Suites is situated in what is becoming a revitalized business center in Merrimack. The Manchester‐Boston Regional Airport access road has become a catalyst for new business development by connecting Everett Turnpike passengers directly to the Airport. The greatly anticipated Merrimack Premium Outlets are also slated to open in June, further attracting in-state and out-of-state visitors to the area.

About Roedel Companies
Located in Wilton, Roedel Companies maximizes free cash flow and return on investment for hotel owners and investors. The organization has 45 years of experience developing, constructing, managing and designing hotels for its own account and third parties through its subsidiaries RGH Hospitality and ROK Builders. Roedel Companies offers but is not limited to hotel development, construction, preopening and management.

In addition, Roedel Companies owns and operates nationally branded hotels primarily in the select service segments throughout the eastern United States. Their properties include the Hilton Garden Inn Manchester and a growing portfolio of nationally branded, select service hotels including other Hilton Garden Inns, Hampton Inn & Suites, Holiday Inn Express & Suites and La Quinta Inns & Suites.
For more information, visit www.roedelcompanies.com or call David Roedel at 603‐654‐2040, ext. 106.

About Merrimack County Savings Bank
Founded in 1867, Merrimack County Savings Bank is a mutual owned financial institution headquartered in Concord, New Hampshire with seven offices in Bow, Concord, Contoocook, and Nashua. The bank offers a wide variety of deposit, loan, wealth management, and convenience services to individuals, businesses and organizations. Bank deposits are insured by the Federal Deposit Insurance Corporation (FDIC). Bank assets total more than $657 million. For more information, visit: http://www.TheMerrimack.com.