News

29 Mar2022

SALE OF EXTENDED-STAY ATLANTA HOTEL REINFORCES RESILIENCY OF SEGMENT

Hunter Hotel Advisors (“HUNTER”) closed yet another sale in its hometown of Atlanta. Led by Senior Vice President Tim Osborne, HUNTER brokered the sale of the Residence Inn by Marriott Atlanta Buckhead/Lenox Park to Auro Hotels and an institutional equity partner for an undisclosed amount. With the Residence Inn, Auro Hotels acquires an institutionally branded asset in the heart of Atlanta, the business capital of the Southeastern United States.

“We are thrilled that the stars aligned on this acquisition – a smooth process with a highly professional seller, another collaboration with a trusted equity partner, and a further expansion of our relationship with Marriott,” said DJ Rama, CEO of Auro Hotels. “With the expertise brought by our investment, operations and design and construction resources, we believe strongly in the property’s future performance potential.”

Whether they’re visiting for work or play, guests of the Residence Inn will enjoy all that Buckhead has to offer. The leisure traveler can look forward to world-class shopping and dining available in this affluent Atlanta submarket. The hotel is within two miles of Lenox Square Mall and Phipps Plaza. The 150-room property sits adjacent to AT&T corporate offices. 

In addition to the perks of a thriving urban location, the Residence Inn benefits from its place in the Extended Stay segment. According to a recent report by research consulting firm the Highland Group, demand for extended-stay hotels in the fourth quarter of 2021 outpaced supply by more than five times. In 2020, Buckhead led the Atlanta MSA in RevPAR by nearly 20% in higher-priced properties.

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