This roundup features the latest hotel transactions in the U.S. hotel industry.
The Williamsburg Hotel
Rooms: 147
Location: Brooklyn, New York
Price, Including Debt: $96 million
Price Per Room: $653,061
Buyer: Quadrum Global
Seller: Heritage Equity Partners
Date of Transaction: April 18, 2023
Takeaway: Quadrum Global is also the owner and develop of Arlo Soho, Arlo Nomad and Arlo Midtown.
Hilton Garden Inn Durham-Raleigh/Research Triangle Park
Rooms: 177
Location: Durham, North Carolina
Price, Including Debt: $21.3 million
Price Per Room: $120,056
Buyer: Sree Hotels
Seller: Blackstone Real Estate Income Trust
Date of Transaction: April 11, 2023
Takeaway: Hunter Hotel Advisors arranged the sale on behalf of the seller.
Best Western Ocean Breeze Inn Hilton Head Island
Rooms: 63
Location: Hilton Head Island, South Carolina
Price, Including Debt: $8 million
Price Per Room: $127,778
Buyer: Magna Hospitality
Seller: Sam Johal
Date of Transaction: April 17, 2023
Takeaway: Trey Scott, senior vice president of Hunter Hotel Advisors, advised the seller. The new buyer plans to reposition the property as a Spark by Hilton.
Fairfield Inn & Suites Kansas City Downtown Union Hill
Rooms: 115
Location: Kansas City, Missouri
Price, Including Debt: $10.8 million
Price, Per Room: $93,478
Buyer: Pradipkumar Patel
Seller: True North Hotel Group
Date of Transaction: April 10, 2023
Takeaway: Lee Hunter, chief operating officer of Hunter, and Spencer Davidson, senior vice president of Hunter, facilitated the transaction.
Hilton Garden Inn Tampa East Brandon
Rooms: 152
Location: Tampa, Florida
Price, Including Debt: $21 million
Price, Per Room: $138,158
Buyer: Fusion Hospitality
Seller: MIG Real Estate
Date of Transaction: April 5, 2023
Takeaway: Robert Taylor, Sophia Pittaluga and Trey Scott of Hunter’s Miami and Jacksonville offices arranged the sale on behalf of MIG.