The Bethany Beach Portfolio consists of the 112-key Ocean Suites Residence Inn and the 100-key Hotel Bethany Beach in Bethany Beach, DE. The Ocean Suites Residence Inn opened in 2015 and is the only hotel in Bethany Beach that is located directly on the Bethany Beach Boardwalk. It is one of the top Residence Inns in the Marriott system in terms of average daily rate (“ADR”) given asset quality, beachfront location, and large guestroom size (average of approximately 540 square feet) that has a strong appeal to families. The Hotel Bethany Beach is an independent select service hotel that opened in 2001 and is located two blocks away from the beach.