Skip to content

Search

Latest Stories

Five Star acquires Dalton, GA, Courtyard

The 2016-renovated Courtyard Dalton is near medical center, college

Five Star Acquires Courtyard Dalton, GA Hotel in Expansion

Five Star Group acquired the 93-key Courtyard Dalton in Dalton, Georgia, from an institutional seller.

Summary
  • Five Star acquired the 93-key Courtyard Dalton in Dalton, Georgia.
  • The Georgia-based firm is led by Managing Principal Anish Govan.
  • The 2016-renovated hotel is near Dalton’s industrial hub.

FIVE STAR GROUP recently purchased the 93-key Courtyard Dalton in Dalton, Georgia, from an institutional seller. The company, based in Dalton and founded by Naren Patel in 1990, is led by Managing Principal Anish Govan.

Other terms of the deal were not disclosed in the transaction brokered by Mayank Patel, senior vice president at Hunter Hotel Advisors.


“The acquisition of Courtyard Dalton aligns with our ongoing expansion in a submarket that has performed well for us,” said Govan. “We see upside through investment and operational synergies and plan to allocate capital to enhance returns. Mayank and the Hunter team brought strong professionalism and industry knowledge, making them a key partner in this transaction.”

Dalton, the second largest city in northwest Georgia and a manufacturing hub, provides access to Chattanooga and Atlanta, placing the hotel at a junction in the Southeast. Nearby are Shaw Industries, Mohawk Industries, the 255-bed Hamilton Medical Center and Dalton State College, which serves more than 5,000 students.

Patel said they are grateful for the seller’s continued trust in the Hunter team.

“The Courtyard Dalton attracted numerous qualified bidders in a competitive process. The Five Star team stood out with strong terms and closed earlier than expected.”

Amenities at the 2016-renovated Courtyard Dalton include a fitness center and indoor pool.

In November, Five Star Group affiliates Five Star Hospitality Management and Dream Capital named Justin Patel senior associate of investments and asset management and Kimberly Rowell executive vice president.

More for you

Embassy Suites in Gulf Shores Alabama

Embassy Suites opens in Gulf Shores, AL

Summary:

  • Peachtree Group, Woodbine Development and DD Partners opened the Embassy Suites Gulf Shores on Alabama’s Gulf Coast.
  • The eight-story, 257-room hotel includes 13,620 square feet of meeting space, with a 7,800-square-foot ballroom overlooking the Gulf.
  • Peachtree provided a $42 million floating-rate first mortgage to Banyan Street Capital for the acquisition and repositioning of the Atlanta Financial Center.

Embassy Suites by Hilton Gulf Shores Beach Resort is now open in Gulf Shores, Alabama. The eight-story, 257-room, all-suite hotel was developed by Peachtree Group, Woodbine Development Corp. and DD Partners LLC.

Keep ReadingShow less
Excel Group Acquires 2 Hotels Near Sawgrass Coconut Creek FL
Photo credit: Marriott and Hilton

Excel buys 2 hotels in Coconut Creek, FL

Summary:

  • Excel Group reportedly acquired the Residence Inn and Hampton Inn & Suites in Coconut Creek, Florida, for $21.17 million.
  • The 105-room Residence Inn was built in 2019; the adjacent Hampton Inn & Suites, built in 2014, also has 105 rooms.
  • Founded in 2011, Excel owns, develops, invests in, and manages U.S. hotels, with about $1 billion in acquisitions.

EXCEL GROUP, A private equity firm that owns and develops hotels, reportedly acquired the Residence Inn and Hampton Inn & Suites in Coconut Creek, Florida, for $21.17 million. The Arlington, Virginia-based firm is led by Founder and Principal Shoham Amin.

Keep ReadingShow less
ESA Extended Stay Select Suites Debuts in Wildwood, Florida

ESA Select Suites opens in Wildwood, FL

Summary:

  • Orlando-based Southern Hospitality, led by President Nikesh Shah, recently opened Extended Stay America Select Suites Wildwood – The Villages in Wildwood, Florida.
  • The hotel offers apartment-style suites and a fitness center across 50,000+ square feet on 1.75 acres.
  • A recent ESA survey found extended-stay hotels outperform vacation rentals and apartments in comfort, value and sense of home.

Extended Stay America Select Suites Wildwood – The Villages is now open in Wildwood, Florida. The four-story, 124-room property, developed by Southern Hospitality, is the first to feature the Select Suites new-construction prototype.

Keep ReadingShow less
Baywood Acquires Hyatt Place Miami Airport-West/Doral |Miami

Baywood acquires Miami Hyatt Place

Summary:

  • Baywood Hotels, based in Columbia, Maryland and led by President Al Patel, acquired the 124-room Hyatt Place Miami Airport-West/Doral in Miami.
  • The hotel is near Miami International Airport, South Beach, UPS, FedEx, Boeing, and the upcoming Oasis of Doral.
  • Hunter Hotel Advisors, led by Robert Taylor and Sophia Pittaluga, brokered the sale.

BAYWOOD HOTELS RECENTLY acquired the 124-room Hyatt Place Miami Airport-West/Doral in Miami. Hunter Hotel Advisors, led by Executive Vice President Robert Taylor and Senior Vice President Sophia Pittaluga, brokered the sale, Hunter said in a statement.

Keep ReadingShow less
Nanak Acquires Warwickshire’s Kings Court Hotel for £2.75M
Photo credit: Colliers International UK

Nanak acquires Warwickshire, England, hotel for $3.74M

Summary:

  • Nanak Hotels, owned by British Indians, acquired the 60-room Kings Court Hotel, a 17th-century property in Warwickshire, England, for $3.74 million.
  • The firm plans to invest in the property's refurbishment and repositioning.
  • Colliers International UK brokered the deal, led by Josh Sullivan and Peter Brunt.

UK-BASED NANAK HOTELS recently acquired the 60-room Kings Court Hotel, a 17th-century property in Warwickshire, England, for £2.75 million or around $3.74 million. This is the first regional acquisition by the privately held firm led by British Indians Harpreet Singh Saluja and Karamvir Singh.

Keep ReadingShow less