Atlanta-based Banyan Investment Group has acquired the Hampton Inn in Terre Haute, Indiana, which is located on a high-visibility 2.5 acre site along Interstate 70.
The seven-floor property features 112 rooms, including five suites; indoor swimming pool; business center; fitness center; 144 sq. ft. meeting room; and the brand’s distinctive “perfect mix” lobby.
“This acquisition expands our portfolio beyond the southeast, which has historically been our primary operating area, and it reconfirms our intention to establish a nationwide presence,” explains Andy Chopra, Chief Investment Officer and a principal with Banyan Investment Group.
“We continue to actively investigate acquisition opportunities that can add both value and profitability, especially in markets with thriving corporate and university communities. We fully expect to proceed with other appropriate projects during 2015.”
Last year, the company added four properties — three through acquisition and one through renovation and rebranding. The Hampton Inn Terre Haute is the company’s first acquisition in 2015.
Added Chopra, “Demand generators for the Hampton Inn Terre Haute are exceptionally strong, notably four nearby universities with a combined population of more than 18,000 students plus numerous major corporate employers.”
