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VMV Capital breaks ground on ESA in South Carolina

The 88-room hotel will be the first of its kind for the company

VMV Capital breaks ground on ESA in South Carolina
Ed Brock
By Ed BrockNov 22, 2022
Ed Brock
Ed Brock is an award-winning journalist who has worked for various U.S. newspapers and magazines, including with American City & County magazine, a national publication based in Atlanta focused on city and county government issues. He is currently assistant editor at Asian Hospitality magazine, the top U.S. publication for Asian American hoteliers. Originally from Mobile, Alabama, Ed began his career in journalism in the early 1990s as a reporter for a chain of weekly newspapers in Baldwin County, Alabama. After a stint teaching English in Japan, Ed returned to the U.S. and moved to the Atlanta area where he returned to journalism, coming to work at Asian Hospitality in 2016.
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REAL ESTATE INVESTMENT, development and management firm VMV Capital recently broke ground on the Extended Stay America Premier Suites Duncan in Duncan, South Carolina. It is the first such property for VMV, led by Vinny Patel as CEO.

The four-story, 88-room hotel is in Spartanburg County between Greenville and Spartanburg near many businesses, including BMW, Michelin, and Spartanburg Regional Healthcare System, according to VMV.  Other attractions include the Trapped in the Upstate Escape Rooms, Greer Heritage Museum and several parks. Construction is under way and the hotel is expected to open in summer 2023.

Hotel amenities will include a fitness room and an onsite guest laundry.

"This Extended Stay America Premier Suites is the first of its kind in the VMV Capital portfolio. The in-room amenities create an apartment-style environment for the business and leisure traveler alike, fostering an at-home experience during long-term stays," Patel said. "The Extended Stay America team is passionate and understands the value these hotels bring to the local community and traveler of tomorrow."

The Duncan property is an extension of ESA’s brand, said Mark Williams, ESA’s managing director for franchise development.

"The Extended Stay America Premier Suites Duncan will serve the growing demand for extended stay lodging in the area and continues our strategy of growing the brand through franchising," Williams said. "It is always a pleasure to work with owners like VMV Capital who invest in their own communities and help us continue to meet the growing demand for extended-stay lodging."

VMV Capital was founded in 2017 and is focused on value-add and opportunistic investment opportunities within the extended-stay hotel sector in the Southeast U.S.

Extended-stay hotels set new performance records for demand, ADR and RevPAR in the third quarter of 2022, according to the latest report from The Highland Group.

vmv capital

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