5 hotels change hands

The 150-key Hotel Mead in Wisconsin Rapids, Wis., features a restaurant, a tavern, a marketplace, a conference center, a guest laundry, an indoor pool and a fitness room. Photo credit: Milmark Hotel/Motel Investments

Five hotels totaling 592 guestrooms changed hands in Wisconsin, Texas and Florida. 

In Texas, HVS Brokerage & Advisory arranged the sale of the 101-key Fairfield Inn & Suites by Marriott Lubbock Southwest and the 100-key Home2 Suites by Hilton Lubbock. Legendary Acquisitions’ Lodging Fund REIT III bought both properties from Houston-based Treemont Partners. The Fairfield and Home2 Suites were built in 2017 and 2015, respectively. Major demand generators in the area include Texas Tech University, Lubbock Christian University, South Plains College, Covenant Medical Center and University General Hospital.

Milmark Hotel/Motel Investments, a member of Hotel Brokers International, negotiated the sale of the 150-key Hotel Mead in Wisconsin Rapids, Wis. Founders Collection 2, which is affiliated with Base Hospitality Group, bought the property from SKD Hotel Mead. The property features a restaurant, a tavern, a marketplace, a conference center, a guest laundry, an indoor pool and a fitness room.

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In Florida, KT Lakeland sold the 157-suite Ramada by Wyndham Lakeland to Savan Patel for $5.1 million and Tampa Rollercoaster Hotels sold the 84-room Hampton Inn & Suites Tampa Busch Gardens Area to EV Hospitality Group for $13 million. The Ramada was built in 1975 and renovated in 2018 and the Hampton Inn & Suites was built in 2017. Marcus & Millichap facilitated both sales.

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