HGI Sold to Peachtree in Tupelo, MS
Friday September 27th, 2013 - 10:24AM EF
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TUPELO, MS—The 158-room Hilton Garden Inn here was sold to Peachtree Hotel Group, which took over management of the property. HREC Investment Advisors represented Tom Ricketts and Master Hospitality Services, Inc. in the sale; Ricketts will retain a role as asset manager.. The sale was negotiated by Patrick Culligan, principal of HREC in Memphis and Scott Stephens, senior principal/COO of HREC IA in Tampa, FL.
Tags: • Hospitality • Acquisitions • Brokers •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.