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US Hotel Deals: Rockbridge Sells Two Hotels

Other Transactions Include Quality Inn & Suites in Virginia, the Hyatt Regency Lake Tahoe for $345 Million and More
Rockbridge sold the Homewood Suites Vancouver-Portland in Vancouver, Washington, for $19.5 million. (JLL's Hotels and Hospitality Group)
Rockbridge sold the Homewood Suites Vancouver-Portland in Vancouver, Washington, for $19.5 million. (JLL's Hotels and Hospitality Group)
Hotel News Now
October 26, 2021 | 12:32 P.M.

This roundup features the latest hotel transactions in the U.S. hotel industry.

Legendary Capital purchased the Avid Memphis Southaven in Southaven, Mississippi, for $12 million. (CoStar)

Avid Memphis Southaven, Mississippi

Rooms: 92
Location: Southaven, Mississippi
Price, Including Debt: $12 million
Price Per Room: $130,434
Buyer: Legendary Capital
Date of Transaction: Oct. 18, 2021
Takeaway: This was an all-cash transaction.

Quality Inn & Suites Franklin, Virginia

Rooms: 77
Location: Franklin, Virginia
Price: N/A
Price Per Room: N/A
Seller: Shreeji, Inc.
Buyer: Maa Khodiyar, LLC
Date of Transaction: Oct. 18, 2021
Takeaway: CAS Hotel Advisors represented the seller.

Homewood Suites Vancouver-Portland

Rooms: 104
Location: Vancouver, Washington
Price: $19.5 million
Price Per Room: $187,212
Seller: Rockbridge
Date of Transaction: Oct. 14, 2021
Takeaway: JLL's Hotels and Hospitality Group closed the sale of the hotel alongside the Homewood Suites Portland Airport.

Homewood Suites Portland Airport

Rooms: 105
Location: Portland, Oregon
Price: $22.7 million
Price Per Room: $216,190
Seller: Rockbridge
Date of Transaction: Oct. 14, 2021
Takeaway: JLL's Hotels and Hospitality Group closed the sale of the hotel alongside the Homewood suites Vancouver-Portland.

Morpho Hotels and Resorts USA LLC purchased the Rodeway Inn Holdredge in Holdredge, Nebraska. (Morpho Hotels and Resorts USA)

Rodeway Inn Holdredge

Rooms: 40
Location: Holdrege, Nebraska
Buyer: Morpho Hotels and Resorts USA LLC
Date of Transaction: Oct. 4, 2021
Takeaway: India-based hospitality firm Morpho Hotels and Resorts India Pvt. Ltd., in partnership with Upjeet Singh Sahota, founded Morpho Hotels and Resorts USA LLC based in New York.

Charleston Place

Rooms: 433
Location: Chareslton, South Carolina
Buyer: Beemok Capital
Date of Transaction: Oct. 1, 2021
Takeaway: Beemok Capital is the family office of local billionaire businessman Ben Navarro. Beemok Hospitality Group will revitalize the hotel and its surrounding complex.

NewcrestImage sold the Hyatt Place in Amarillo, Texas. (NewcrestImage)

Hyatt Place Amarillo

Rooms: 91
Location: Amarillo, Texas
Buyer: An affiliate of KAMP Hotels, LLC
Seller: NewcrestImage
Date of Transaction: Sept. 30, 2021
Takeaway: The hotel opened in December 2019.

Fort Lauderdale Beach Hotel Portfolio

Rooms: 154
Location: Fort Lauderdale, Florida
Price: $27.3 million
Price Per Room: $177,000
Date of Transaction: Sept. 30, 2021
Takeaway: Lee & Associates South Florida represented the sellers. The portfolio consists of turn-key independent hotels throughout six buildings and one vacant lot.

Sheraton Old San Juan

Rooms: 240
Location: Old San Juan, Puerto Rico
Buyer: Driftwood Capital
Date of Transaction: Sept. 28, 2021
Takeaway: Driftwood Captial intends to convert the hotel into a Tribute by Marriott. It will be managed by Driftwood Capital's sister company Driftwood Hospitality Management.

Hyatt Regency Lake Tahoe Resort, Spa and Casino

Rooms: 422
Location: Incline Village, Nevada
Price: $345 million
Price Per Room: $817,535
Buyer: Lawrence Investments LLC
Date of Transaction: Sept. 3, 2021
Takeaway: Larry Ellison, co-founder of computer technology corporation Oracle, formed Lawrence Investments.

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