SAINT LOUIS, MO—An investment group led by Midas Hospitality, LLC has acquired the 110-room Courtyard by Marriott – Clemson, SC for $16.5 million. Midas Hospitality, LLC, a hotel owner, operator and developer based here, will manage the asset.
The property is located less than one mile from the Clemson University campus and features 110 guestrooms and suites, a fitness center, Bistro restaurant & bar, meeting rooms and heated indoor swimming pool.
“We are acquiring an award-winning hotel with service delivery in the top 5% of the Courtyard by Marriott brand,” said Robert Willard, president and principal, Midas Hospitality, LLC. “The addition of the Courtyard by Marriott – Clemson, SC to the Midas hotel portfolio in the southeast, further reinforces our aggressive, yet strategic, company growth in this area. The hotel will undergo a $1.5 million PIP in the next 12 months.”
Financing for the acquisition was led by Cass Commercial Bank with a participation from Parkside Financial Bank & Trust. The Courtyard by Marriott – Clemson, SC will make the third Marriott product within the 22-hotel Midas portfolio.