HREC Investment Advisors handled the sale of the Embassy Suites hotel near Lambert-St. Louis International Airport.
The company did not identify the new owner, which it described as an institutional buyer. HREC represented the seller, Fairwood Capital, which is based in Memphis. Schulte Hospitality Group, of Louisville, Ky., will manage the 163-room Embassy Suites, which is in Bridgeton, Mo.
HREC's deal involving a St. Louis airport hotel is not its first transaction in the area.
In January, the company arranged the sale of the 29-story Crowne Plaza hotel in downtown St. Louis to 200 STL Holdings from Hallmark Hotels. The new owner is mulling over a plan to redo the hotel's top dozen floors or so as residences.
