Hoover, Alabama, October 4, 2022 – HP Hotels, a full-service third-party hotel management company, has been chosen by Lodging Fund REIT III, Inc. (“Lodging Fund”) to manage their newly acquired Hilton Garden Inn Charlotte North and Hilton Garden Inn Charlotte Pineville properties. HP Hotels CEO Kerry Ranson made the announcement.
HP Hotels had already been managing these properties for many years for another ownership group and alerted Lodging Fund’s sponsor, Legendary Capital, that they would become available as an off-market investment opportunity.
“We’re excited to manage these assets for Lodging Fund in markets where we have excellent experience and a strong presence. We look forward to an outstanding partnership with Corey Maple and the Legendary Capital team. They are skilled opportunistic investors and portfolio managers,” Ranson said.
“A deal like this also demonstrates how we add value to a relationship as asset managers, working with ownership groups to help them gauge market trends, determine ongoing valuations and establish transition plans, whether for a portfolio of hotels or individual properties,” Ranson added.
“We look forward to working with Mike Hines, Kerry Ranson, Ed Robison and the entire HP Hotels team,” said Corey Maple, Chairman & CEO of Legendary Capital.
“HP Hotels is an accomplished, resourceful, and creative property management specialist who completely understands our asset management strategies and objectives; and they have outstanding experience with the Hilton Garden Inn platform over many years. Moreover, Ed Robison of HP Hotels is a former Hilton executive who lives in the backyard of these properties. We know they are in great hands.”
Each of these Lodging Fund-owned 112-room, 5-story Hilton Garden Inns feature an outdoor pool, fitness center, free wi-fi, business center, free parking, 24-hour snack shop, cooked-to-order breakfast and meeting space. Each property will undergo a comprehensive property improvement plan, to include interior and exterior renovations.
Hilton Garden Inn Charlotte North
The Hilton Garden Inn Charlotte North, at 9315 Statesville Road, is off I-77, a mile from Northlake Mall. Uptown Charlotte, US National White Water Rafting Center, Bank of America Stadium and Charlotte Douglas Airport are under 15 miles away. UNC-Charlotte Campus and Lake Norman are a 15-minute drive away. The property features 4,716 square feet of meeting space.
Hilton Garden Inn Charlotte Pineville
The Hilton Garden Inn Charlotte Pineville, at 425 Towne Centre Boulevard, Pineville, is off I-485, within minutes of downtown Charlotte, NarroWay theatre, and Carowinds Amusement Park. The light rail is two miles away, and NASCAR Hall of Fame and Charlotte Airport are within 15 miles. The property features the Garden Grille restaurant and 2,340 square feet of meeting space.
