Hunter Hotel Advisors announced that the firm recently sold the 4-year-old, six story, 120- room Hilton Garden Inn in Greenville, S.C. The firm represented the seller Deean Hospitality on the sale to Summit Hotel Group for $127,000 per key.
“The seller came to us because they wanted to run an efficient process. We were able to bring the property to market and complete the transaction in just five months,” said Teague Hunter, president of Hunter Hotel Advisors. “We marketed the hotel to well capitalized buyers with whom we have very strong relationships. Like most of our transactions today, the process was completed quickly and quietly.”
“The hotels location and strong cash flow made this an attractive investment for Summit. They outbid three strong competitors”
Hunter Brokers involved in the transaction included Teague Hunter and Trey Scott.
“The hotels location and strong cash flow made this an attractive investment for Summit. They outbid three strong competitors,” said Trey Scott, vice president of Hunter Hotel Advisors. To date, Hunter has closed 22 transactions in 2013. The firm has close to 100 hotels on the market totaling close to a billion dollars in value, with six additional hotels scheduled to close by the end of May.
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