Assembled and maintained by HLC Hotels for more than 30 years, the hotels had never previously been offered for sale. Collectively, the six hotels comprised 175 guestrooms across Savannah, spanning the River Street waterfront to the neighborhoods surrounding Forsyth Park. The portfolio included Kehoe House, The Gastonian, Eliza Thompson House, East Bay Inn, Olde Harbour Inn and The Marshall House.
“The outcome speaks to both the quality of the assets and the strength of investor demand for Savannah,” said Pete Dannemiller, executive managing director, Hodges Ward Elliott. “Investor interest was high due to the quality of the assets in a historic location, and the opportunity for maximized returns.”
“HWE has advised on the sale of 12 hotels within Savannah’s Historic District over the past five years, representing the market-leading share of hotel investment sales in the district,” said Nate Ries, senior director, Hodges Ward Elliott. “This track record reflects our firm’s extensive local relationships, market expertise and longstanding leadership within Savannah’s hospitality investment market.”
An HWE team, led by Dannemiller and Ries, executed a targeted marketing strategy that culminated in three separate transactions with three distinct buyers.
Tags: Pete Dannemiller, Hodges Ward Elliott Savannah portfolio
