SAVANNAH, GA—An affiliate of Weston, FL-based InSiteGroup has acquired the 101-room hotel at 320 MontgomerySt. in downtown Savannah with the intent to reposition the formerCountry Inn & Suites property.
The firm intends to convert the hotel into the BHistoric Savannah, a boutique and lifestyle hotelaffiliated with B Hotels & Resorts. Thepurchase of the hotel was announced by Newmark Grubb KnightFrank, which arranged the sale on behalf of the sellerTara of Savannah LLC in a privately marketedtransaction. No financial details of the transaction werereleased.
“Given its prime location in the historic downtown, this hotelattracted a number of eager investors wanting to get into thisknown high barrier-to-entry hotel market with very strong anddiverse leisure demand," said NGKF hotels director Bhavesh“B.J.” Patel.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
