Banyan Investment Group renovates two hotels

Renovations have begun at two hotels owned and operated by Atlanta-based Banyan Investment Group.

The Comfort Suites in Newport, Ky., located on the Ohio River directly across from Cincinnati, is undergoing a $1.5-million upgrade of its public space as well as all 124 guest suites. In addition, five new guest suites are being added and the exterior of the six-floor is being painted.

The seven-floor Hampton Inn in Terre Haute, Ind., is undergoing a $1.3-million upgrade of all 112 guestrooms, plus its public space and the exterior.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

“We are modernizing the curb appeal, as well as the look and comfort of our interior spaces, so we can even better meet the expectations of our guests,” said Andy Chopra, chief investment officer of Banyan Investment.  

The company acquired both properties earlier this year -- the Hampton Inn Terre Haute in March and the Comfort Suites Newport in August. The hotel in Kentucky was purchased in association with Investra Investments. The properties will continue to operate during the renovations, with work progressing in strategic phases and affecting only a limited area of each hotel at any given time. Renovations are expected to be completed by February in Terre Haute and by May in Newport.

Suggested Articles

The three-month deferral of debt service payments helped provide immediate relief for hoteliers struggling with closed or empty properties.

The REIT said that it does not expect to see a meaningful increase in demand for its portfolio until there are COVID-19 medical solutions in place.

Choice Hotels International hailed its strong domestic drive-to and leisure markets as it reported growth in occupancy and conversions.