Hunter Hotel Advisors has arranged the sale of the Hilton Garden Inn and Hampton Inn & Suites Savannah Midtown. MIG Real Estate Group (MIG) sold both properties to HOS Management as a portfolio for an undisclosed amount.
Robert Taylor, Sophia Pittaluga and Trey Scott of Hunter’s Miami and Jacksonville offices arranged the sales on behalf of MIG.
“We are very pleased with the acquisition of these properties,” said Kris Patel, president, HOS Management. “Developing a new hotel from the ground up is not what it once was. With rising construction costs, uncertainty within the debt market, and the time it takes for stabilization, we felt it was the right move.”
The Hilton Garden Inn and Hampton Inn & Suites Savannah Midtown provide a combined 252 guestrooms to serve the increasing traffic in the Savannah area. These two properties are adjacent to the main campus of Savannah Technical College and less than a mile from Fort Stewart-Hunter Army Airfield. These properties are just south of Downtown Savannah, which draws several visitors annually toward attractions such as River St., Broughton St., City Market and The Savannah College of Art and Design.
“Following this and other recent dispositions, MIG Real Estate will be actively seeking new acquisition opportunities in 2023,” said Kyle Halbrook, hotel acquisitions manager, MIG.
