Summary:
- Milan acquired the SpringHill Suites and Courtyard in Asheville, NC.
- Milan is led by President and CEO Monark Patel.
- Hunter’s Sophia Pittaluga brokered the off-market deal.
MILAN HOTEL GROUP acquired the 88-room SpringHill Suites by Marriott Asheville and the 78-room Courtyard by Marriott Asheville in North Carolina from an institutional seller. Hunter Hotel Advisors brokered the off-market transaction.
The hotels are about five minutes from downtown Asheville, Hunter said in a statement. They have access to Asheville’s main tourism, medical and corporate corridors. Their proximity to the Biltmore Estate, Biltmore Village, the Blue Ridge Parkway and the Tunnel Road retail district supports year-round visitation, along with healthcare, education and regional corporate travel.
Built in 2002, SpringHill Suites by Marriott Asheville has an indoor pool and a fitness center. Nearby on Buckstone Place, Courtyard by Marriott Asheville, built in 1996, offers an indoor pool, a 24-hour fitness center and guestrooms, many with private balconies.
North Carolina-based Milan is led by President and CEO Monark Patel.
“This acquisition is a key step in our growth across Western North Carolina,” Patel said. “The SpringHill Suites and Courtyard Asheville properties strengthen our operational footprint and align with our focus on service and community partnerships. We look forward to building on the foundation already in place and enhancing the guest experience.”
Sophia Pittaluga, senior vice president at Hunter, said they facilitated the off-market transaction for their institutional client and look forward to Milan expanding its Asheville portfolio.
“The transaction underscores Hunter’s ability to efficiently connect capital with assets,” Pittaluga said. “We welcome conversations with owners exploring a potential sale and seeking strategic guidance. Our team continues to identify disposition opportunities across the U.S. and I encourage qualified buyers to reach out to discuss available offerings.”
Milan recently opened the 127-key AC Hotel by Marriott in Asheville, North Carolina’s Biltmore Village.
