21 November 2024

WOODVALE ACQUIRES MEMPHIS SOUTHAVEN HOTELS FROM CHARTWELL HOSPITALITY IN TRANSACTION BROKERED BY HUNTER HOTEL ADVISORS

Hunter Hotel Advisors ("HUNTER") today announced the successful sale of the Courtyard and Residence Inn Memphis Southaven. Woodvale purchased the two properties from Chartwell Hospitality on November 1, 2024. HUNTER’s Chief Operating Officer, Lee Hunter, and Senior Vice President, Tim Osborne, facilitated the transaction.

Situated in DeSoto County, Mississippi, the Courtyard and Residence Inn Memphis Southaven are conveniently located along I-55, near popular destinations including Downtown Memphis, the Beale Street Entertainment District and BankPlus Amphitheater. The region’s industrial sector, featuring distribution centers for companies such as McKesson, Amazon and Williams-Sonoma, bolsters the hotels' corporate market. The hotels benefit from their proximity to healthcare and education hubs, including Baptist Memorial Hospital, St. Jude Children’s Research Hospital and the University of Memphis.

“Our acquisition of the Southaven Marriott Portfolio underscores our commitment to adding high-quality, strategically located assets to our portfolio,” said Bashir Mansour, vice president of investments for Woodvale. “We expect that these acquisitions will deliver strong returns for our investors while benefiting Southaven’s growing community.”

With a combined total of 163 keys, the Courtyard and Residence Inn cater to both leisure and business travelers, offering room accommodations designed for full productivity and comfort. Guests enjoy access to 24/7 fitness centers and pools, as well as various on-site dining options, including complimentary breakfast and made-to-order meals. Chartwell Hospitality will continue to manage the hotel upon the change of ownership.

"We are excited to partner with Woodvale and cultivate a long-term relationship with their team,” added Kevin Green, COO of Chartwell Hospitality. “Southaven has been a key market for us over the past 17 years, and we look forward to continuing our success there for many years to come."