Kalyan Hospitality purchases two Roanoke hotels

Hunter Hotel Advisors advised on the sale of the Courtyard and Residence Inn Roanoke Airport. Kalyan Hospitality purchased the two properties with Hunter’s SVP, David Perrin, representing the institutional seller.

The Courtyard and Residence Inn, totaling 214 keys, are located near various demand drivers in the Roanoke area. Less than a mile from Roanoke Blacksburg Regional Airport, these Marriott-branded hotels are close to the Roanoke Valley, the largest metropolitan area in the western region of Virginia. Roanoke is located within 500 miles of two-thirds of the nation’s population, positioning it as a nexus for transportation, finance and industry. The hotels directly benefit from Roanoke’s primary logistics corridor, home to major companies such as UPS, FedEx, XPO and Norfolk Southern.

“We were thrilled to represent ownership on these high-yielding and well-maintained hotels in Roanoke,” said Perrin. “The buyer is a significant regional owner who plans to improve their economies of scale within the growing Roanoke MSA. The new owners will renovate the hotels to current brand standards.”