Hodges Ward Elliott Successfully Finalizes Sale of Atlanta’s Dual-Branded Hotel

Major Milestone in Atlanta's Hotel Market

Hodges Ward Elliott (HWE), a leading boutique advisor in hotel real estate capital markets, recently announced the successful sale of the Crowne Plaza and Staybridge Suites located in Midtown Atlanta. This dual-branded hotel is notable for being one of the largest in the city, featuring 462 guest rooms and extensive amenities, including 34,600 square feet dedicated to meeting and event space across 17 rooms, multiple dining options, a rooftop pool deck, and a fitness center. The hotel stands tall at 25 stories and is easily recognizable in the Atlanta skyline, especially for those traveling along the Downtown Connector.

Strategic Location Near Key Institutions

The strategic positioning of the hotel makes it particularly appealing. Situated next to Georgia Tech and Emory University Hospital Midtown, it sits in a vibrant area surrounded by significant corporate entities such as Coca-Cola, Honeywell, and NCR VOYIX/Atleos. This prime location continues to see substantial investment and development, highlighted by the ongoing expansion of educational and healthcare institutions, including a new $500 million Emory Winship Cancer Institute and advancements at Georgia Tech.

According to Nate Ries from HWE, "We are pleased to have facilitated the sale of one of Atlanta's largest and most recognizable hotels. We appreciate the confidence the seller placed in our team to execute this important transaction." Michael Tormey, another member of the team, highlighted the property's 50-plus years within Atlanta's hospitality landscape, expressing confidence in the buyer's potential for future success.

A Hub of Corporate and Institutional Demand

The hotel’s location is further enhanced by its close proximity to key attractions such as the Fox Theatre and the North Avenue MARTA station, offering excellent connectivity for both leisure and business travelers. This significant positioning not only serves guests attending functions within the hotel but also captures a high volume of visitors to the nearby corporate and educational centers, emphasizing its importance in the local economy.

HWE’s accomplishment in this sale adds to their impressive track record, as the firm has facilitated over $100 billion in transactions in its 50-year history, with more than $50 billion occurring since 2015. Their experience and expertise in navigating complex real estate transactions continue to solidify their status as leaders within the hotel investment advisory sector.

In summary, the sale of the Crowne Plaza/Staybridge Suites in Midtown Atlanta not only marks a key moment in the city’s hotel industry but also signals continued growth and investment in an area thriving with opportunities for corporate and institutional collaboration. Hodges Ward Elliott's successful representation of the seller exemplifies their commitment to excellence and the fostering of long-term client relationships, which will undoubtedly benefit the buyer as they step into a pivotal role in Atlanta's hospitality market.