SAINT LOUIS, MO, March 15, 2016 – An investment group led by Midas Hospitality, LLC has acquired the 110-room Courtyard by Marriott – Clemson, SC for $16.5M. St. Louis-based hotel owner, operator and developer, Midas Hospitality, LLC will manage the asset.
Opened in 2009, the Courtyard by Marriott – Clemson, SC is located at 201 Canoy Lane, Clemson, SC, at the corner of SR-123 & 93, less than one mile from the Clemson University campus. The asset boasts 110 guest rooms and suites, fitness center, Bistro restaurant & bar, meeting rooms and a heated indoor swimming pool.
Robert Willard, President & Principal, Midas Hospitality, LLC states, “we are acquiring an award winning hotel with service delivery in the top 5% of the Courtyard by Marriott brand. The addition of the Courtyard by Marriott – Clemson, SC to the Midas hotel portfolio in the southeast, further reinforces our aggressive, yet strategic, company growth in this area. It is every exciting to add our first Courtyard by Marriott to our hotel portfolio. The hotel will undergo a $1.5M PIP in the next 12-months”. Financing for the acquisition was led by Cass Commercial Bank with participation from Parkside Financial Bank & Trust.
The Courtyard by Marriott – Clemson, SC will make the third Marriott product within the 22-hotel Midas portfolio. Adding to the portfolio, Midas Hospitality, LLC recently acquired the Holiday Inn Express – Champaign, IL, the Holiday Inn Express – Sikeston, MO, opened the Hampton Inn – Poplar Bluff, MO and is developing a Hampton Inn – Wentzville, MO, a Courtyard by Marriott – St. Louis / St. Peters, MO, a SpringHill Suites – Lenexa, KS, a dual-branded Residence Inn / Fairfield Inn by Marriott – Charlotte Airport, NC, a dual-branded Residence Inn / Fairfield Inn & Suites – St. Louis / Westport Plaza, and a Staybridge Suites – St. Louis / Westport Plaza, all to open in the next 12-months.
Kurt Furlong, EVP & Principal – Sales & Marketing, states, “The Courtyard by Marriott – Clemson, SC is a terrific asset in a great location backed by one of the best brands in the industry.” Furlong added “With our extensive pipeline of Marriott assets, the Courtyard by Marriott – Clemson, SC will make a great addition to our growing Midas Hospitality family.”
