Hoover, Alabama – HP Resorts, a full-service third-party lodge administration firm, has been chosen by Lodging Fund REIT III, Inc. (“Lodging Fund”) to handle their newly acquired Hilton Backyard Inn Charlotte North and Hilton Backyard Inn Charlotte Pineville properties. HP Resorts CEO Kerry Ranson made the announcement.
HP Resorts had already been managing these properties for a few years for one more possession group and alerted Lodging Fund’s sponsor, Legendary Capital, that they’d grow to be obtainable as an off-market funding alternative.
“We’re excited to handle these property for Lodging Fund in markets the place we’ve got wonderful expertise and a powerful presence. We look ahead to an excellent partnership with Corey Maple and the Legendary Capital crew. They’re expert opportunistic traders and portfolio managers,” Ranson stated.
“A deal like this additionally demonstrates how we add worth to a relationship as asset managers, working with possession teams to assist them gauge market developments, decide ongoing valuations and set up transition plans, whether or not for a portfolio of motels or particular person properties,” Ranson added.
“We look ahead to working with Mike Hines, Kerry Ranson, Ed Robison and the whole HP Resorts crew,” stated Corey Maple, Chairman & CEO of Legendary Capital.
“HP Resorts is an achieved, resourceful, and inventive property administration specialist who fully understands our asset administration methods and targets; and so they have excellent expertise with the Hilton Backyard Inn platform over a few years. Furthermore, Ed Robison of HP Resorts is a former Hilton govt who lives within the yard of those properties. We all know they’re in nice fingers.”
Every of those Lodging Fund-owned 112-room, 5-story Hilton Backyard Inns characteristic an outside pool, health middle, free wi-fi, enterprise middle, free parking, 24-hour snack store, cooked-to-order breakfast and assembly area. Every property will bear a complete property enchancment plan, to incorporate inside and exterior renovations.
Hilton Backyard Inn Charlotte North
The Hilton Backyard Inn Charlotte North, at 9315 Statesville Highway, is off I-77, a mile from Northlake Mall. Uptown Charlotte, US Nationwide White Water Rafting Heart, Financial institution of America Stadium and Charlotte Douglas Airport are underneath 15 miles away. UNC-Charlotte Campus and Lake Norman are a 15-minute drive away. The property options 4,716 sq. ft of assembly area.
Hilton Backyard Inn Charlotte Pineville
The Hilton Backyard Inn Charlotte Pineville, at 425 Towne Centre Boulevard, Pineville, is off I-485, inside minutes of downtown Charlotte, NarroWay theatre, and Carowinds Amusement Park. The sunshine rail is 2 miles away, and NASCAR Corridor of Fame and Charlotte Airport are inside 15 miles. The property options the Backyard Grille restaurant and a couple of,340 sq. ft of assembly area.
About HP Resorts
Now celebrating its 20th Anniversary, HP Resorts is a third-party administration group with a portfolio of greater than 25 motels in 8 states comprised of main manufacturers like Hilton, Marriott, InterContinental and Alternative, in addition to unbiased properties. These properties embody upscale choose service, full service, boutique and outdoors-nomadic lodging. With vital experience in operations, asset administration, gross sales and advertising, and profitability, HP has earned most well-liked lodge administration firm standing with identify model lodge chains whereas rating among the many High 50 largest Lodge Administration Corporations in the US.