An affiliate of Dallas-based Encore Hospitality bought the 146-room Fairfield Inn & Suites by Marriott Savannah (Ga.) Midtown. HREC Investment Advisors exclusively represented the seller, Atlanta-based North Point Hospitality Group.
The Fairfield Inn is located 3 miles from downtown Savannah and roughly 14 miles from the Savannah/Hilton Head International Airport. The hotel features an on-site laundry, a fitness center and an outdoor swimming pool.
“This transaction was arranged off-market with a buyer that was specifically looking to get into the Savannah market with a top-tier select-service asset,” Tom Huegel, an SVP in HREC’s Atlanta office and the brokerage firm’s lead on the transaction, said in a statement. “This is a perfect example where an experienced broker that fully understands the market can create value for both sides of the transaction.”