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Helix Hospitality Acquires 78-Key Residence Inn

The Blackstone Group Sells Huntsville Hotel for $7.8M
February 15, 2018
Helix Hospitality, a suburban Chicago-based hotel ownership and management company, acquired the 78-room Residence Inn hotel in Huntsville, AL from The Blackstone Group for nearly $7.8 million, or approximately $100,000 per room.

The recently renovated, all-suite, extended-stay hotel is located near the Redstone Arsenal, a U.S. Army facility in Huntsville covering 38,000 acres that houses more than 60 different federal agencies including NASA.

Other major employers include Boeing and Lockheed Martin and Huntsville was also recently selected for the location of a $1.6 billion Toyota/Mazda joint assembly plant.

JR Patel, Helix Hospitality's president said he expects the hotel to play a key role in the firm's overall growth strategy for 2018.

"The property is well positioned in the dynamic Huntsville market, which we anticipate will continue to grow in the coming years," said Patel.

Teague Hunter and Tim Osborne of Hunter Hotel Advisors represented the seller, which renovated the building’s guestrooms and public areas in 2016.

Please see CoStar COMPS #4129720 for more information on this transaction.
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