Riva Hospitality has acquired the Holiday Inn Monticello in Charlottesville, Va., from Morris Creek Yacht Club in a deal facilitated by Mumford Company.
Riva Hospitality is a regional hotel owner and developer with plans to retain the Holiday Inn franchise after mainly cosmetic renovations to the property. Ed James and Steve Kirby, both Mumford Company managing principals—and GR Patel, VP in Mumford Company’s Dallas office—represented the seller, Morris Creek Yacht Club, in the transaction.
“This hotel has been a leader in the Charlottesville hospitality market for years having been owned and operated by the seller since the 1980s,” James said in a statement. “The purchaser plans to continue that tradition and carry its superior level of service into the future to both University of Virginia related guests and to the transient corporate and commercial customers in the central Virginia region.”