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US Hotel Deals: Artmore Hotel in Atlanta Sells for $21 Million

Other Transactions Include: $315 Million Four Seasons Jackson Hole

The Artmore Hotel in Midtown Atlanta sold for $21 million. (Hodges Ward Elliott)
The Artmore Hotel in Midtown Atlanta sold for $21 million. (Hodges Ward Elliott)

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

Artmore Hotel

Rooms: 103
Location: Atlanta
Price, Including Debt: $21 million
Price Per Room: $204,854
Buyer: Scarp Ridge
Seller: Urbana
Date of Transaction: Nov. 4, 2022
Takeaway: Hodges Ward Elliott represented the seller in the transaction.

Four Seasons Resort & Residences in Jackson Hole

Rooms: 125
Location: Jackson Hole, Wyoming
Price, Including Debt: $315 million
Price Per Room: $2 million
Buyer: Host Hotels & Resorts
Seller: China-based Dajia Insurance Group
Date of Transaction: Nov. 2, 2022
Takeaway: Host Hotels & Resorts funded the purchase with all cash. The property also has 44 private residences.

Courtyard by Marriott St. Petersburg Downtown

Rooms: 128
Location: St. Petersburg, Florida
Price, Including Debt: $29.1 million
Price Per Room: $227,343
Buyer: RADCO Companies
Seller: Blackstone
Date of Transaction: Oct. 31, 2022
Takeaway: CBRE represented the seller in the transaction.

Homewood Suites by Hilton Saratoga Springs

Rooms: 113
Location: Saratoga Springs, New York
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: A partnership between XSS Hotels and DelMonte Hotel Group.
Seller: N/A
Date of Transaction: Oct. 19, 2022
Takeaway: The extended-stay property includes 56 studio suites, 53 one-bedroom suites and four two-bedroom suites.

Kimpton Hotel Vintage Portland

Rooms: 117
Location: Portland, Oregon
Price, Including Debt: $32.9 million
Price Per Room: $281,196
Buyer: Pacifica Hotels
Seller: Pebblebrook Hotel Trust
Date of Transaction: Sept. 15, 2022
Takeaway: The hotel was built in the late 1800s and underwent a multimillion renovation in 2015 and 2018.

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