Newport Comfort Suites acquired by Banyan Investment Group

Mumford Company, a full-service hospitality brokerage advisory firm since 1978, announced the completion of the sale of the Comfort Suites Newport, Ky. This is the third hotel disposition Steve Kirby and Ed James, principals of Mumford Company, have represented the seller, an entity owned by Musselman Hotels.

The six-story property consists of 124 guestrooms, breakfast area, meeting space, business center, guest laundry and a fitness center. Located on the banks Ohio River and adjacent to Newport on the Levee Entertainment District. The hotel has excellent proximity to numerous demand generators in the Cincinnati Metro Market area including the Newport Aquarium, Great American Ball Park, Paul Brown Stadium and the University of Cincinnati.

“By working on selling this off market project with both the seller and buyer in this transaction, Mumford Company was able to structure a fee simple deal and a long-term land lease with the city of Newport,” stated Steve Kirby, principal, Mumford Company.

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.

Atlanta-based Banyan Investment Group purchased the property and plans on renovating and reconfiguring the property to take full advantage of all the Comfort Suites brand has to offer.

Suggested Articles

This new toolkit presents essential resources that will help hotels navigate their way through today's uncertainties and the eventual recovery.

Revenue per available room fell 95.2 percent year over year for the month, but May's month-over-month numbers may be brighter.

Outrigger Hospitality Group has outlined its elevated standard for cleanliness and safety as the company prepares to reopen its resorts.