- CN Hotels acquired Marriott hotels in Tennessee.
- The 196-key properties are in Chattanooga.
- Hunter Advisors brokered the deal.
The hotels are the 109-key Residence Inn and 87-key TownePlace Suites, both near Hamilton Place and Interstate 75. Nearby demand generators include Volkswagen Chattanooga, Amazon, Erlanger East Hospital and Chattanooga Metropolitan Airport.
The Residence Inn opened in 2009 and includes approximately 7,959 square feet of meeting space, while the TownePlace Suites opened in 2012, Hunter said in a statement.
“These acquisitions are an important step in strengthening our presence in Tennessee and advancing our broader growth strategy across the Southeast,” said Mitul Patel, CN Hotels’ partner.
Tim Osborne, Hunter’s senior vice president said, the two hotels offer access to a range of local demand sources.
“The buyer will execute a comprehensive renovation of both assets to current brand standards to improve overall performance,” Osborne said.
Hunter recently brokered the sale of the 149-key Courtyard by Marriott Oklahoma City Airport in Oklahoma City.
