banyan
Banyan Investment Group Completes Sale of 96-Room Kimpton Goodland Hotel Ft. Lauderdale Beach
Kimpton Goodland Hotel | May 10, 2022
FT. LAUDERDALE, Fla., May 10, 2022—Banyan Investment Group (BIG), an Inc. 5000-recognized, hotel investment company that acquires hotels in the United States, today announced the sale of the 96-room Kimpton Goodland Hotel Fort Lauderdale Beach in Fla., to DiamondRock Hospitality Company for $35.3 million. “Following an extensive market study that led us to believe South Florida travel would rebound quickly, we took a calculated risk and purchased this property in Q420, prior to vaccines being released when travel volumes remained low,” said Andy Chopra, managing partner, Banyan Investment Group. “Our research proved prescient,...
Banyan Investment Group Completes Acquisition of 101-Room Hotel Indigo Tuscaloosa Downtown in Alabama
Banyan Investment Group | September 17, 2019
TUSCALOOSA, Ala.--September 17,2019 --Banyan Investment Group, an Inc. 5000 recognized hotel investment and management company that acquires and manages select-service hotels in the United States, today announced that the company completed the acquisition of the 101-room Hotel Indigo Tuscaloosa Downtown in Ala. The company also will operate the hotel and oversee a $500,000 refurbishment of The Lookout, downtown Tuscaloosa’s only rooftop bar, along with the public areas of the hotel. This marks Banyan Investment Group’s ninth acquisition from its recently launched BIG Hotels LP I, LLC fund. “We continue to seek hotel acquisition oppor...
Banyan Investment Group Acquires 89-Room Fairfield Inn & Suites by Marriott Peoria East in Illinois
Investment Group | August 29, 2019
PEORIA, Ill., August 29, 2019--Banyan Investment Group, an Inc. 5000 recognized hotel investment and management company that acquires and manages select-service hotels in the United States, today announced that it acquired the 89-room Fairfield Inn & Suites by Marriott Peoria East. The company also will operate the hotel, its eighth acquisition from its recently launched BIG Hotels LP I, LLC fund. “Due to our strong and longstanding industry relations, we were able to source this deal off-market at an attractive price at better than replacement costs,” said Rakesh Chauhan, president and CEO, Banyan Investment Group. “Equally ...
Banyan Investment Group Acquires 120-Room Hilton Garden Inn and 91-Suite Homewood Suites in Columbus, Georgia
Banyan Investment Group | April 9, 2018
COLUMBUS, Ga., April 9, 2018--Banyan Investment Group, an Inc. 5000 recognized hotel investment and management company that acquires and manages select-service hotels in the United States, today 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...
Banyan Investment Group Launches Renovations at Two Hotels Acquired Earlier This Year
Banyan Investment Group | December 3, 2015
December 3, 2015 - Extensive renovations have begun at two hotels owned and operated by Atlanta-based Banyan Investment Group: The Comfort Suites in Newport, KY, located on the Ohio River directly across from Cincinnati, is undergoing a $1.5 million upgrade of public space as well as all 124 guest suites. In addition, five new guest suites are being added and the exterior of the six-floor is being painted. The seven-floor Hampton Inn in Terre Haute, IN is undergoing a $1.3 million upgrade of all 112 guest rooms, plus public space and the exterior. "We are modernizing the curb appeal, as well as the look and comfort of our interior s...
Banyan Investment Group and Investra Investments Acquire the 86-key Homewood Suites in Mobile, AL
Banyan Investment Group | December 3, 2014
December 3, 2014 - Banyan Investment Group and Investra Investments have acquired a Homewood Suites on Providence Park Drive, two miles from the regional airport in Mobile, Alabama. Loxi Hospitality provided advisory services with the transaction. The property will immediately undergo a $2.7 million renovation -- expected to be complete by early next year -- that will meet or exceed the architectural and design standards specified by Hilton Worldwide's Take Flight initiative. Features of the three-story Homewood Suites include 86 one and two-bedroom suites, each with a separate living room and fully-equipped kitchen; a business center; ...
