News Summary
The Red Roof Inn/HomeTowne Studios in Augusta has been sold for $4 million, marking a significant development in the local hospitality sector. The dual-branded hotel features 138 rooms and first entered the market in May 2023 with a higher asking price. The new owner plans to continue its operations while investing in renovations to enhance guest experience. This sale reflects growing demand for hotel accommodations in Augusta, following the recent opening of new hotels in the area.
Exciting Changes Coming to Augusta with Hotel Sale!
Augusta is buzzing with fun news as the Red Roof Inn/HomeTowne Studios at 3030 Washington Rd. has just been sold for a cool $4 million. This sale took place in early January, wrapping up a year-long listing for the property, which many in the local hospitality sector have had their eyes on.
About the Property
The dual-branded hotel, which features a cozy 138 rooms, first hit the Augusta market back in May 2023 with an asking price of $4.9 million. The price was adjusted, and the new owner has now made their move at the $4 million mark! It’s interesting to note that the hotel began its journey in 1986 as a Hampton Inn and rebranded itself to Red Roof in 2017. Clearly, this place has a rich history, and it’s now stepping into a promising new chapter.
Who’s Behind the Sale?
While details about the specific buyer and seller remain under wraps, the sale was expertly managed by the team at Cushman & Wakefield, a commercial real estate brokerage that’s been operating in the industry for some time now. Ely Silverstein, a senior associate from Cushman & Wakefield, confirmed that the new owner has big plans for the hotel. They have expressed their intention to continue operating it as the same dual-brand, a vital part of its charm and appeal.
Future Plans for Augusta’s Hotel Scene
What’s more exciting is that this new owner is all about making improvements! They plan to invest in renovations while ensuring the hotel continues to operate seamlessly. This is great news for locals and visitors alike who enjoy the services this hotel offers.
The timing of this sale is particularly notable as it comes right on the heels of the new dual-branded Fairfield and TownePlace Suites by Marriott that recently opened in Grovetown. Hospitality in the area is certainly on the rise, reflecting the ongoing growth in demand for hotel accommodations in the region.
Grovetown’s Flourishing Hospitality
Speaking of Grovetown, that area is thriving! Matt Ricker, the general manager of the new Marriott properties, has highlighted the exciting developments in the hospitality market there. The brand new hotels are a welcomed addition to the growing options available for guests.
The experiences from previous hotels, like the Home2Suites by Hilton, which opened in 2016, are clearly paying off. The management company, Plamondon Hospitality Partners, is eager to serve guests with their extensive knowledge in the local market. This enthusiasm only showcases the vibrant nature of the industry in Augusta and Grovetown.
The Bigger Picture
Overall, the sale of the Red Roof Inn/HomeTowne Studios represents more than just a transaction; it’s a sign of growth and opportunity in Augusta’s hospitality sector. As renovations and improvements roll out, guests can look forward to an enhanced stay experience, and the local economy benefits from continued investment in the area.
As Augusta continues to evolve, it’s clear that the city is gearing up for brighter days ahead in the world of travel and accommodations. With new hotel options popping up and existing properties receiving upgrades, both visitors and locals have a lot to look forward to in the coming months.
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Additional Resources
- Augusta Chronicle: Red Roof Near I-20 Sells
- Post and Courier: Crowne Plaza North Augusta For Sale
- CoStar: US Hotel Deals
- Augusta Press: Crowne Plaza Hotel in North Augusta Up for Sale
- Augusta Chronicle: Budget Hotel Near I-20 Up For Sale
- Wikipedia: Hotel
- Google Search: Augusta hotel news
- Google Scholar: Augusta hotel real estate
- Encyclopedia Britannica: Hotel
- Google News: Augusta real estate
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