Carey Watermark Investors acquires Savannah Staybridge Suites

Carey Watermark Investors acquired the Staybridge Suites Savannah Historic District, a 104-room select service hotel located in Savannah, Ga.

The hotel is located in Savannah's Historic District, and a renovation of the rooms and corridors of the property is planned. CWI's $25.5-million investment includes the $22.8 million purchase price as well as $2.7 million in other acquisition-related costs and planned capital expenditures. The acquisition was financed with $14.9 million of debt. 

The hotel will continue to be managed by Interstate Hotels & Resorts.

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.