Warmbrodt Hotel Investments (WHI) closed the sale of Holiday Inn Fort Smith-City Center in Arkansas. WHI was the exclusive adviser on behalf of the seller. The property was sold to an institutional investor at an undisclosed price. The purchaser plans renovations to the guest rooms and public spaces.
The Holiday Inn Fort Smith-City Center is a full-service, nine-story, interior-corridor, atrium design hotel. It is comprised of 255 guestrooms, 56 of which are suites. Facilities include a fitness center, an indoor pool, restaurant, lounge and up to 15,000 square feet of meeting space.
"This buyer has an excellent background in full-service renovation and repositioning. We expect to see solid performance for this property going forward, either as another national franchise or an independent tied to the convention center," said Lewis Thompson, associate at WHI.
