Mission Hill Hospitality has purchased the Home2 Suites by Hilton Blacksburg, a 103-key hotel in Blacksburg, VA, and the Residence Inn Tuscaloosa, a 111-key hotel in Tuscaloosa, AL, from KM Hotels. JLL’s Hotels & Hospitality group represented both the buyer and seller.
Home2 Suites by Hilton in Blacksburg is located in New River Valley and surrounded by the Blue Ridge and Alleghany Mountains. The town offers a number of attractions and activities for visitors to enjoy. The property is under a mile from Virginia Tech University and 15.5 miles from Radford University.
The Residence Inn Tuscaloosa offers complimentary WiFi, a grilling patio with fire pits, a 24-hour fitness center and indoor pool. There is also a free breakfast buffet and a complimentary grocery deliver service available to guests. The hotel is located along the banks of the Black Warrior River, a short drive from downtown and the University of Alabama.
The JLL Hotels & Hospitality group team was led by Managing Director Ketan Patel. “I would like to thank KM Hotels for once again allowing us to represent them and also appreciate yet another seamless transaction from Mission Hill,” he said. “This deal and others we have closed recently in the select-service/extended-stay space show that demand is still robust for similar type assets, and we can achieve great results for our clients despite the market headwinds.”
A previous version of this story had the buyer and seller listed incorrectly.
