Banyan Investment Group Acquires Hilton Garden Inn and Homewood Suites in Columbus
Tuesday, April 10th, 2018
Banyan Investment Group, an Inc. 5000 recognized hotel investment and management company that acquires and manages select-service hotels in the United States, announced that it has acquired and will operate the 120-room Hilton Garden Inn Columbus and the 91-suite Homewood Suites by Hilton Columbus, both in Ga., bringing their combined portfolio of owned and operated hotels nationwide to 16. The company also will oversee $3.8 million in renovations and enhancements to the hotels.
“These properties meet many of the characteristics of our stringent deal criteria that should allow us to meet or exceed our investment return expectations and thresholds,” said Andy Chopra, founding principal and chief investment officer. “We were able to purchase institutional assets built above prototype standards at below replacement costs. Furthermore, these hotels benefit from their ideal location in a market buoyed by a military base, state university and numerous fortune 1000 companies that have a permanent presence in Columbus.”