Mission Hill Hospitality has acquired two new hotel assets in a single transaction as it continues to expand its portfolio throughout targeted markets in the U.S. The deal includes the Residence Inn Tuscaloosa, a 111-key hotel in Tuscaloosa, AL, and the 103-key Home2 Suites by Hilton Blacksburg in Blacksburg, VA. Terms are undisclosed.
These are the 28th and 29th properties added to the Mission Hill Hospitality portfolio since it launched in March 2021. It is the company’s first acquisition in Alabama and its second in Virginia.
“The opportunity to acquire these two well-located assets aligns with our strategy to invest in core-branded, select-service hotels in stable and growing markets, especially those driven by higher education,” said Mike Wilbert, managing director, Mission Hill Hospitality. “Both the University of Alabama in Tuscaloosa and Virginia Tech in Blacksburg continue to be significant contributors to the growth and development of both cities and generate substantial demand for extended stay hotels.”
The Residence Inn Tuscaloosa is located along the banks of the Black Warrior River, close to downtown and the University of Alabama. Nearby attractions include Bryant-Denny Stadium, the home field of the Alabama Crimson Tide football team, and the Tuscaloosa Amphitheater. The hotel is less than a mile away from the University’s Bryce Campus, a large extension set to receive additional investment. It is three miles from UMC Northport Medical Center and seven miles from Tuscaloosa National Airport.
Home2Suites by Hilton Blacksburg is located in the New River Valley, surrounded by the Blue Ridge and Alleghany Mountains. Virginia Tech is less than a mile away. Nearby attractions include Cascade Falls, Hahn Horticulture Garden, Heritage Park, Smithfield Plantation, Lyric Theater and the Virginia Museum of Natural History. Roanoke-Blacksburg Regional Airport is just under 40 miles from the hotel.
