HREC Investment Advisors is pleased to announce it has arranged the sale of the 146-guestroom Fairfield Inn & Suites Savannah Midtown located in Savannah, Georgia. An affiliate of Encore Hospitality, LLC based in Dallas, TX, acquired the property. North Point Hospitality Group, an award-winning developer and operator of top-tier select-service hotels based in Atlanta, GA was the seller.
HREC Investment Advisors exclusively represented the seller on this transaction. The marketing and negotiations were led by Tom Huegel, Senior Vice President, in HREC Investment Advisors’ Atlanta office.
“This transaction was arranged “off-market” with a buyer that was specifically looking to get into the Savannah market with a top-tier select service asset. This is a perfect example where an experienced broker that fully understands the market can create value for both sides of the transaction,” stated Huegel.
The Hotel is strategically located in Midtown Savannah just three miles from downtown Savannah, and roughly 14 miles southeast from the Savannah Hilton Head International Airport. The Hotel offers great visibility and excellent access to the city’s strong corporate presence, famous attractions, and popular leisure demand generators. Savannah is a world-class tourist destination with a myriad of historic sites and an eclectic culture. With over 13 million visitors annually, Savannah has won several of travel awards in various categories and has cemented the region as one of the United States’ most desirable areas, further contributing to the success of the area’s lodging market. Downtown Savannah offers visitors elegant architecture, fountains and green squares, renowned restaurants, and countless cultural attractions. One of Savannah's most popular tourist destinations, its historic district, situated less than four miles from the Hotel. The historic district is the largest national historic landmark district in the United States and features over 20 city squares filled with museums, churches, mansions, and monuments all famed for their Revolutionary and Civil War era preservation.
About HREC®: HREC® is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting including market studies, and litigation support. With offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital and hotel/casino specialization.
