A joint venture between private equity firm Sage Lane Partners, led by Managing Partners Bhavnesh and Bhavin Vivek, and ARK Holdings, led by CEO Azim Saju, recently acquired the 101-room Hampton Inn & Suites Prattville in Alabama.
Vishnu Rageev R is a journalist with more than 15 years of experience in business journalism. Before joining Asian Media Group in 2022, he worked with BW Businessworld, IMAGES Group, exchange4media Group, DC Books, and Dhanam Publications in India. His coverage includes industry analysis, market trends and corporate developments, focusing on retail, real estate and hospitality. As a senior journalist with Asian Hospitality, he covers the U.S. hospitality industry. He is from Kerala, a state in South India.
Sage Lane Expands with Hampton Inn in Alabama Acquisition
A JOINT VENTURE between Sage Lane Partners and ARK Holdings recently acquired the 101-room Hampton Inn & Suites Prattville in Prattville, Alabama. Sage Lane, a private equity real estate firm, is led by Managing Partners Bhavnesh and Bhavin Vivek, while ARK, a hotel development and management company, is led by CEO Azim Saju and will operate the hotel.
This acquisition continues Sage Lane’s growth since its 2024 formation, reaching more than $350 million in assets under management, the duo said in a joint statement.
“The Hampton Inn & Suites Prattville marks our first acquisition, though it is by no means our first hotel investment,” said Bhavnesh Vivek. “With more than 40 years of combined hospitality experience, our executives have closed over 40 transactions and provided investment, advisory, and asset management services for more than $3 billion in hotel real estate. Our acquisition and development pipelines remain full, and we look forward to adding up to three acquisitions and breaking ground on two developments this year.”
The hotel is near Wilderness Park/Bamboo Forest, Town of Spectre abandoned movie set, Montgomery Zoo & Mann Wildlife Learning Museum and The Scott and Zelda Fitzgerald Museum. Amenities include a fitness center, outdoor pool, business center and 576 square feet of event space.
Bhavin Vivek said Sage Lane seeks to uncover unrealized value by targeting off-market and overlooked real estate opportunities.
“We partner with high-net-worth and institutional investors to apply our asset management expertise to value-add and opportunistic investments,” he said. “Sage Lane Partners offers flexible capital solutions that enable diversification into unconventional markets and commercial ventures, ultimately delivering strong returns. The Hampton Inn & Suites embodies this strategy, and we look forward to expanding our portfolio nationwide as we pursue our growth goals.”
“We look forward to collaborating with the Sage Lane Partners team to apply our experience to the Hampton Inn & Suites as we implement strategies to drive cash flow, maximize the asset’s value, and deliver an elevated guest experience,” said Saju.
Ed Denning, president of ARK Development, said Prattville is a growing market ideal for a select-service hotel offering the amenities most requested by business and leisure travelers. “Working with the Sage Lane Partners team, we’re excited to be part of the community and have a positive local impact,” he said.
Peachtree Group recently launched the 114-key Residence Inn Ocean Township along the Jersey Shore, its eighth DST offering since the program’s launch in 2022.
SREE Hotels opened the 136-key TownePlace Suites by Marriott Charlotte in North Carolina.
Charlotte, NC–based firm is led by Chairman Ravi Patel and Vice Chairman Chandra Patel.
The hotel is near Charlotte Douglas Airport, Carowinds and the Billy Graham Library.
TownePlace Suites by Marriott Charlotte LoSo is now open in Charlotte, North Carolina. The 136-key, five-story hotel is owned by SREE Hotels, LLC.
The property is near Charlotte Douglas International Airport, Carowinds Amusement Park, the Billy Graham Library, Bank of America Stadium, the Charlotte Regional Farmers Market, Spectrum Center and Truist Field, SREE Hotels said in a statement. It includes a fitness center, outdoor patio, swimming pool and 1,140 square feet of meeting space.
Charlotte–based SREE Hotels is led by Chairman Ravi Patel and Vice Chairman Chandra Patel.
“We are excited to expand our portfolio with this conversion and to bring the TownePlace Suites brand back to Charlotte,” said Vinay Patel, SREE Hotels’ principal and head of external affairs. “The renovation and conversion of this hotel creates a destination for travelers to Charlotte.”
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