Newport News, Va. — Mumford Company, a full-service hotel advisory firm since 1978, announced it has completed the sale of the Holiday Inn Mobile—Airport in Mobile, Alabama.
Ed James and Steve Kirby, managing principals of Mumford Company, represented the seller—an operator, developer, and investor in premium-branded, select- and limited-service, and extended-stay hotel assets—in the sale of the asset to a Mobile-based developer with multiple properties along the Gulf Coast. This was the second asset Mumford has sold for this seller in the last year and their fifth transaction with the purchaser.
“The Holiday Inn Mobile was a strategic acquisition for the purchaser since it allows them to establish a foothold in this dynamic and growing submarket. By utilizing their operational efficiencies and marketing synergy with their other Gulf properties, they will be able to enhance top- and bottom-line performance,” said Kirby. “This was our second transaction with this seller, allowing them the ability to right-size their portfolio in today’s market. Mumford Company appreciates the trust its clients’ place on them to ensure their portfolio is strategically aligned with their current goals.”
The four-story, 97-room Holiday Inn Mobile—Airport is located near the airport and within minutes of Springdale Mall and The Shoppes at Bel Air. It is close to Airbus’ only U.S. manufacturing facility, the University of South Alabama, Port of Mobile, and the USS Alabama Battleship Memorial Park.