Hilco Real Estate, LLC announced the sale of this newly constructed, 56,963 SF, four-story, 98-Room Holiday Inn Express Hotel on behalf of Wealth Hospitality Group. Sitting on 2.68 AC, this hotel sold to MH Hospitality for $13,950,000, totaling $142,346 per key room.
This listing was marketed for a period of 30 days, bringing in prospective buyers who wanted to move quickly on this brand-new asset. The hotel includes two elevators, a 1,200 SF meeting space, outdoor pool and fitness center.
Huntsville, Alabama has become the largest city in the state with a population of approximately 215,006. Located just one mile from the U.S. Space & Rocket Center, Huntsville Botanical Garden, Redstone Arsenal Army Post, Cummings Research Park (the second largest research park in the United States) and the University of Alabama – Huntsville, this hotel is extremely well situated and welcomes steady visitors year round. Interstate access puts the asset five miles from downtown Huntsville and just ten miles from the Huntsville International Airport.
Keith Worsham, senior vice president of Hilco Real Estate's national hotels team, stated, "This sale represents an outstanding turnkey opportunity in a city near major interstates, colleges and local attractions."