Mark Beadle:Hotel Broker Atlanta, Georgia - Another Successful Escrow Closed
Scope of Work:
Mark Beadle a Hotel Broker: Just Sold-Guest House Westside – Savannah, Georgia Sold
Description of Project:
Mark Beadle a Hotel Broker with HTL Hospitality Advisors located in Atlanta Georgia is pleased to announce the recent sale of the Guest House Westside in Savannah, Georgia. The sale of the 88-unit extended stay lodging facility closed on July 27th. HTL represented the seller, Chatham Anderson, Inc in this transaction. The buyer, DIA Investments, LLC will initially operate the property as is and plans to reposition the facility over time. The property was operating at occupancy percentages in the mid 50’s and an ADR in the low 30’s. The property traded at approximately two times room revenue and was an all cash transaction.