Germantown, Tenn.–McNeill Hotel Investors has acquired the 95-room Home2 Suites by Hilton Gainesville, adding to the company’s growing portfolio and its geographic footprint in Florida.
Completed in 2016, the all-suites, select-service hotel offers a complimentary breakfast, 1,224 square feet of meeting space, a fitness room, an outdoor pool, two lobby workstation computers, and a 24-hour pantry market. The hotel is at 2115 SW 13th Street near the 2,000-acre University of Florida, the nation’s ninth largest public university with an enrollment of over 35,000 students.
The property is also less than one mile from The Health Sciences Center Gainesville, which encompasses six health colleges, six research institutes, two specialty hospitals, and a teaching hospital. Additionally, Home2 Suites by Hilton Gainesville is three miles from the one-million-square-foot Butler Plaza, the largest retail power center in Florida.
“This recently built property is an excellent strategic fit for our growing hotel portfolio,” Phillip McNeill, Jr., CEO, said. “We have great operational experience with the Home2 Suites brand and extended stay properties overall, as they now comprise more than half of our existing portfolio of hotels.”
“Gainesville has many favorable long term demand drivers, including the close by Health Sciences Center Gainesville and the University of Florida. We look forward to becoming a part of the fabric of this community as people serving people,” added Mark Ricketts, the company’s president and chief operating officer.
The acquisition by McNeill Hotel Investors was facilitated by capital recently secured by McNeill through New York-based Almanac Realty Investors LLC. McNeill Hotel Investors and McNeill Hotel Company now own and manage 19 select-service hotels—including as an approved franchisee for Marriott and Hilton—across the Southeast, the Midwest, and Mountain States, with several additional properties in the acquisition and development pipeline.