Finance & DevelopmentDevelopmentBanyan Investment Group Acquires Two Hilton Hotels in Georgia

Banyan Investment Group Acquires Two Hilton Hotels in Georgia

COLUMBUS, Ga.—Hotel investment and management company Banyan Investment Group has acquired and will operate two Georgia hotels in the Hilton brand family—the 120-room Hilton Garden Inn Columbus and the 91-suite Homewood Suites by Hilton Columbus. The addition brings the company’s combined portfolio of owned and operated hotels in the United States 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 investment return expectations and thresholds,” Andy Chopra, founding principal and chief investment officer, says. “We were able to purchase institutional assets built above prototype standards at below replacement costs. Furthermore, these hotels benefit from their ideal location in a market buoyed by a military base, state university, and numerous fortune 1000 companies that have a permanent presence in Columbus.”

Hilton Garden Inn Columbus
Situated in the Brookstone Center Office Park close to I-185 at 1500 Bradley Lake Blvd., the Hilton Garden Inn Columbus is near the Columbus Metropolitan Airport, the Columbus Georgia Convention and Trade Center, Lawson Army Airfield, and Fort Benning. Hotel amenities include complimentary WiFi throughout the hotel, 24-hour business center, and fitness room with weights and cardio equipment. The hotel also provides 1,500 square feet of flexible function space for events of up to 200 people, from family weddings to military reunions. The on-site Great American Grill serves breakfast and dinner daily and the Pavilion Lounge has a fully stocked bar.

Homewood Suites by Hilton Columbus
Located in the vicinity of Peachtree Mall and Columbus State University at 6614 Whittlesey Blvd., the Homewood Suites is near Heath Park and Hughson Clinic. Built with extended-stay guests staying five-plus nights in mind, suites contain separate sleeping and living areas designed to provide all the necessities of home. Kitchens are equipped with full-sized refrigerators/freezers and stovetops, while bathrooms provide deep soaking tubs, walk-in showers, and hair dryers. Hotel amenities include an outdoor pool, fully equipped fitness room, laundry facilities, and 24/7 business center. The hotel also serves a complimentary, hot/cold breakfast buffet daily and an evening manager’s reception held Mondays through Thursdays.

“To better serve the business and leisure travelers of Georgia’s second largest city, Columbus, the two hotels shortly will commence a combined $3.8 million renovation to update and refresh exteriors, guestrooms, and public spaces,” Chopra adds. “From outdoor adventures like rafting on the longest urban whitewater course in the world to world-class museums including the National Infantry Museum and the Coca-Cola Space Science Center, the area offers activities suitable for all levels of adventurers. Combined with the numerous colleges, universities, medical centers, and corporate offices/headquarters, Columbus has something for virtually all travelers. These two hotels are well positioned to meet the various needs of all area visitors. Following the completion of the renovation process and implementation of our proprietary management and marketing systems, we expect the properties to quickly take their place as their individual segment market leaders. This ultimately should allow us to deliver the economic returns which our investors have come to expect from Banyan Investment Group.”