SAVANNAH, GA—An affiliate of Weston, FL-based InSite Group has acquired the 101-room hotel at 320 Montgomery St. in downtown Savannah with the intent to reposition the former Country Inn & Suites property.

The firm intends to convert the hotel into the B Historic Savannah, a boutique and lifestyle hotel affiliated with B Hotels & Resorts. The purchase of the hotel was announced by Newmark Grubb Knight Frank, which arranged the sale on behalf of the seller Tara of Savannah LLC in a privately marketed transaction. No financial details of the transaction were released.

“Given its prime location in the historic downtown, this hotel attracted a number of eager investors wanting to get into this known high barrier-to-entry hotel market with very strong and diverse leisure demand," said NGKF hotels director Bhavesh “B.J.” Patel.

The hotel is located in the heart of the Historic District near such tourist destinations as the Savannah History Museum, Ralph Mark Gilbert Civil Rights Museum, Savannah Civic Center, City Market, Historic River Street and Lucas Theater.

"The buyer gained an excellent, relatively new asset with fantastic growth potential," says Sam Winterbottom, CHA, ISHC, a senior managing director with NGKF Hotels.

The hotel will remain open during renovations that include adding the brand's signature bedding, a spa suite with customizable treatments, and a new tapas and small-plate lounge and bar in the lobby. Currently, the property features a fitness center, a heated indoor pool, parking and 1,000 square feet of meeting space, NGKF officials say.