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.
