In Brief: A portfolio of 249 rooms across Candlewood Suites properties in Bluffton and Charleston has been put on the market, marking another significant transaction in the hospitality sector.
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Candlewood Suites Charleston-Northwood – Image Credit JLL
JLL is offering for sale two Candlewood Suites extended-stay hotels in South Carolina, totaling 249 rooms, either together or individually.
Portfolio Overview
Jones Lang LaSalle Americas, Inc. (JLL) has announced the exclusive sale offering of two extended-stay hotels in South Carolina. The properties included are the Candlewood Suites Bluffton-Hilton Head, with 124 rooms, and the Candlewood Suites Charleston-Northwood, with 125 rooms. The hotels are available for purchase as a portfolio or as individual assets.
Location and Brand
Both hotels are located in South Carolina within areas identified as growth markets. The properties operate under the Candlewood Suites brand, which is part of the InterContinental Hotels Group (IHG). The hotels are positioned to benefit from the brand’s recognition and presence in the extended-stay segment.
Investment Features
The properties are being offered unencumbered by management, allowing a new owner to select their own management company or operate independently. The hotels are described as well-maintained and positioned in growing markets. The extended-stay hotel model is noted for its operational efficiency, which can result in higher profit margins compared to traditional hotel types.
Market and Operational Context
Extended-stay hotels serve as alternatives to short-term apartments and are considered resilient during economic downturns. The operational model is designed for flexibility, enabling adaptation to shifts in market conditions and consumer preferences. The segment has expanded, driven by increased demand for extended-stay accommodations.
Acquisition Opportunity
According to JLL, the offering provides an opportunity to acquire two hotels in desirable markets at a price below estimated replacement cost. The properties are positioned for potential value growth due to their locations, operational model, and brand affiliation.
Inquire at JLL.
