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Hospitality and Tourism

North Carolina firm acquires DoubleTree by Hilton hotel

Hospitality and Tourism
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A North Carolina firm has acquired DoubleTree by Hilton, a full-service hotel near the interchange of Interstate 20 and Interstate 26, west of downtown Columbia.

TT&C Hotel Group LLC/Smith Curry Hotel Group purchased the five-story property at 2100 Bush River Road for an undisclosed amount, according to a press release from Newmark Grubb Knight Frank, a commercial real estate advisory firm that represented the seller, Columbia Hotel and The DoubleTree by Hilton Hotel is near the interchange of Interstate 20 and Interstate 26, west of downtown Columbia. (Photo/Provided)Conference Center LLC.

The buyer plans significant renovations to retain the DoubleTree by Hilton affiliation, the release added.

“The DoubleTree has substantial meeting space and the largest ballroom in the market, allowing it to effectively compete for group business to complement its transient market share,” said Sam Winterbottom, executive managing director for Newmark Grubb Knight Frank. “The buyer sought to expand its existing Charlotte portfolio and capitalized on an opportunity to acquire the property at a discount to the current market replacement costs. Meanwhile, the seller disposed of a non-strategic asset and recycled capital into Augusta, Ga., where it’s based.”

In addition, HP Hotels, a full-service third-party hotel management company based in Birmingham, Ala., announced that it was awarded the management contract of the DoubleTree facility.

“We will leverage the strengths of the property to capitalize on the built-in demand generators of the state capital and the University of South Carolina to make this hotel a true market leader for tourists and guests,” said Charles Oswald, president and COO of HP Hotels.

The hotel, located at 2100 Bush River Road, is an upscale, interior-corridor building that features 237 guest rooms, 23,000-square-feet of event and meeting space, lounge, an on-site restaurant, outdoor swimming pool, business center, fitness center and gift shop.

The seller also was represented by Newmark Grubb Knight Frank senior managing Director Bhavesh Patel, associate Barrett Corwin, and analyst Normann Hauck, of NGKF Hotels.

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