- KingsLane acquired the Hilton Garden Inn Longview, TX.
- The 122-key hotel is near downtown Longview.
- The deal fits KingsLane's hotel investment strategy.
KINGSLANE GROUP ACQUIRED the 122-key Hilton Garden Inn Longview in Longview, Texas. Financial terms were not disclosed.
The hotel is near downtown Longview, healthcare providers, business parks, schools and commercial centers, KLG said in a statement. It has an indoor pool, a 24-hour fitness center and business facilities. The hotel also has four meeting rooms and 7,350 square feet of event space for meetings, training programs, weddings and social events.
Raleigh, North Carolina-based KLG is led by Managing Principal and CEO Nitin Khanna and Managing Principal and CIO Jatin Kumar.
"A lot of hotel investment still chases the big gateway cities, but some of the most dependable performance we see is in places like Longview, where the local economy runs on real businesses rather than tourism cycles," said Khanna. "Those markets tend to get overlooked, which means well-run hotels in them are often undervalued. That's been our thinking with Longview—we invest in hotels with a long-term perspective."
Longview's economy spans healthcare, manufacturing, education and retail, supporting year-round corporate travel. Major employers include Eastman Chemical and CHRISTUS Good Shepherd. Interstate 20 and U.S. Highway 80 connect the city to the region.
The acquisition fits KingsLane's strategy of investing in hotels and creating long-term value through operations, the statement said. The Longview hotel has outperformed its competitive set across key operating periods. KingsLane's portfolio includes the voco Hotel Napoleon in Memphis, Tennessee, and The Drayton Hotel in Savannah, Georgia.
Kumar said the company listens first when it acquires a hotel.
"The team here knows their guests and their market far better than any spreadsheet, so our early months are about understanding what's working and what guests keep asking for before we change anything," he said.
Separately, NM Hospitality recently acquired the EVEN Hotel Pittsburgh Downtown.
