NATIONAL REPORT—Hotel Business is tracking transaction activity in the industry. Here’s a look at three recent acquisitions:
Mandarin Oriental Atlanta is Sold
Hodges Ward Elliott represented the owner in the sale of the Mandarin Oriental Atlanta. Situated in the heart of Atlanta’s upscale Buckhead submarket, the newly rebranded Waldorf Astoria hotel features 127 spacious, luxury guestrooms and suites, all with five-fixture baths. Additionally, the property boasts a 15,000 sq. ft. world-class spa and fitness center, and over 6,000 sq. ft. of meeting space in an iconic building designed by celebrated architect Robert A.M. Stern.
HOS Management, Hawkeye Hotels Acquire Georgia Property
Georgia-based HOS Management (HOS) in a joint venture with Iowa-based firm Hawkeye Hotels acquired the B Historic hotel in Georgia for an undisclosed sum. The property will be converted to a Tryp by Wyndham and will be managed by HOS, which has four Savannah hotels in operation and, including the B Historic, six Savannah hotels in various phases of development.
Built in 2008 and renovated in 2016, the hotel has 101 guestrooms, in addition to a fitness center, indoor pool, business center and signature restaurant Kitchen 320. It is located on Montgomery St. in Savannah’s Historic District. Museums, churches, monuments, fine dining, boutiques, theaters and more surround the area.
Sold: Motel 6 in Charles Town, WV
The Motel 6 located in Charles Town, WV, is sold. CAS Associates Inc. represented Golden Real Estate LLC in the sale. The hotel was acquired by SAIGURU LLC. The new ownership group will continue the affiliation with Motel 6 and has plans to make upgrades to the asset. This 100-unit property is located off U.S Route 340, proximate to Hollywood Casino at Charles Town Races, and within five miles of the Virginia and Maryland state borders.