Hunter Hotel Advisors announced that they exclusively represented Hunter and Harp Holdings in the $23 million sale of the luxury-boutique 117-room Hotel Duval in Tallahassee, FL. Constructed in 1951, the hotel recently joined the Marriott’s Autograph Collection brand family.
Hunter Hotel Advisor’s Teague Hunter and Trey Scott brokered the transaction to a private hotel operator. 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 8-story interior corridor hotel has a prominent history, and is well known locally as the place “to see and be seen” as Tallahassee’s most luxurious hotel offering a full service experience.
“Hunter was pleased to represent this beautiful landmark hotel,” said Teague Hunter, president of with Hunter Hotel Advisors. “We were able to provide our client with several solid offers to choose from, and they were very pleased with the transaction and process.”
“This will afford us the opportunity to reinvest more in Tallahassee,” said Chad Kittrell, co-owner with J.T. Burnette and Frank Whitley of Hunter & Harp Holdings. “We’re going to spread our wings geographically a bit and also continue to invest in this community.”
Hunter’s seven brokerage offices specialize in select and full-service hotels and currently represent more than 90 hospitality assets nationally. Hunter’s Capital Market group is anticipating closing on more than $75 million in debt and equity financing by the end of the year.
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