May 22, 2024

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Mumford Company Completes Sale of Two Limited-Service Hotels

Mumford Company Completes Sale of Two Limited-Service Hotels

two limited-service hotels
Snooze Inn of Staunton, Virginia

NEWPORT Information, Virginia—Mumford Organization finished the sale of two minimal-support hotels in Virginia’s Shenandoah Valley. In two individual transactions, Mumford Corporation represented Dominion Lodging, Inc, in the sale of the Sleep Inn of Staunton, Virginia, to HWY81 Lodge, LLC, and the close by Very best Western of Staunton to North Star BW Staunton, LLC. Both equally purchasers are regional resort entrepreneurs and operators with portfolios across the mid-Atlantic location. Each and every home will retain its current brand affiliation following undergoing renovations. Ed James and Steve Kirby, Mumford Company running principals, represented the vendor in the two transactions.

“Mumford Firm was the appropriate choice for these dispositions,” claimed Dave Anderson, co-president, Dominion Lodging. “Ed James, Steve Kirby, and the complete group at Mumford did a terrific job of exposing our houses to the suitable customers whilst trying to keep our operations absolutely free of the disruption that can typically accompany the lodge sale exertion. They ended up on top rated of each individual stage of the procedure and guided every single transaction to and past the closing desk.”

“It is always satisfying to help construction legitimate ‘win-win’ transactions, and that is what we have been able to attain listed here,” reported Ed James, taking care of principal, Mumford Business. “Both lodges were at the end of franchise license terms, and new ownership will be equipped to proficiently have them ahead, allowing the seller to redeploy the proceeds into other ventures.”