HLC Hotels has sold the Historic Inns of Savannah portfolio, a collection of six hotels in the Historic District of Savannah, Ga., in a deal facilitated by Hodges Ward Elliott. Other terms and conditions were not disclosed.
The final transaction, the sale of The Marshall House, closed in June, concluding a multi-year disposition of the portfolio. Hodges Ward Elliott represented locally-based HLC Hotels in the transactions. The portfolio included 175 guestrooms across six hotels that had been owned and operated by HLC Hotels for more than 30 years.
The Georgia properties—which had not previously been offered for sale—are located throughout Savannah’s Historic District, including River Street and the area surrounding Forsyth Park. The portfolio included Kehoe House; The Gastonian; Eliza Thompson House; East Bay Inn; Olde Harbour Inn; and The Marshall House.
According to the company, a Hodges Ward Elliott team led by Pete Dannemiller, executive managing director, and Nate Ries, senior director, marketed the portfolio through a strategy that resulted in three separate transactions involving three different buyers.
“The outcome speaks to both the quality of the assets and the strength of investor demand for Savannah,” Dannemiller said in a statement. “Investor interest was high due to the quality of the assets in a historic location, and the opportunity for maximized returns.”