Hampton Inn

March 17, 2016 Comments Off on Hampton Inn Sale Sets $58M Record Views: 467 California News, National News, New York, Northeast, Southeast, Tennessee

Hampton Inn Sale Sets $58M Record

MR Hotels LLC has sold the 154-room Hampton Inn & Suites Nashville-Downtown to LCP Group LP of New York and SEDCO Capital, which is based in Saudi Arabia for $57.8 million, which, according to local media reports, is a record sales price for limited-service hotels in the area.

The reports also said that the new owners are planning upgrades, renovations and a 50-room addition to the property at 320 4th Ave. South.

“Rates that hotel rooms are commanding, coupled with a high demand for hospitality properties, have made Nashville one of the top hospitality markets in the country,” said Georgia Krewson, associate director of Marcus & Millichap’s National Hospitality Group (NHG).

Krewson, along with Wes Tiner, a senior director of the NHG, associates Scott Franco, Zach Moore and Kelley Deibler, represented the seller.

Read More at BusinessWire

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