Hunter and Harp Holdings Sells Hotel Duval for $23M
Monday November 4th, 2013 - 10:14AM E
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TALLAHASEE, FL—Hunter and Harp Holdings recently sold a luxury, boutique 117-room hotel located here for $23 million to a private hotel operator. Hotel Duval, which was built in 1951, recently joined Marriott’s Autograph Collection brand family.
“This will afford us the opportunity to reinvest more in Tallahassee,” stated Chad Kittrell, co-owner of Hunter and Harp Holdings. “We’re going to spread our wings geographically a bit and also continue to invest in this community."
Hunter and Harp purchased the historic hotel in 2007, and spent $15 million restoring the integrity of the 50-year-old building before reopening its doors in October 2009 as the Hotel Duval. The eight-story interior corridor hotel offers a full-service experience.
Hunter Hotel Advisors exclusively represented Hunter and Harp Holdings in the sale of the hotel. Hunter Hotel Advisor’s Teague Hunter and Trey Scott brokered the transaction to the private hotel operator.
Tags: Hunter Hotel Advisors • Hospitality • Acquisitions •
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.