NEWPORT NEWS, Virginia—Mumford Company shared its sales performance from the first half of 2024, with multiple transactions closing in the second quarter.
“Even with the current state of interest rates, the hospitality industry fundamentals are strong which continues to drive transactions,” said Justin Pinkard, principal, Mumford Company. “The bid-ask is still sometimes challenging, but there continues to be strong interest in lodging assets.”
Some of its recent transactions include:
- Holiday Inn Blacksburg-Christiansburg, located in Christiansburg, Virginia
- TownePlace Suites by Marriott Memphis-Southaven, located in Southaven, Mississippi
- Best Western, located in Murphy, North Carolina
- Clarion Pointe Greensboro Airport, located in Greensboro, North Carolina
- Sleep Inn/MainStay Suites, located in Meridian, Mississippi
- Motel 6 Medical Center, located in San Antonio, Texas
- Sleep Inn & Suites, located in Smithfield, North Carolina
“At Mumford Company, we pride ourselves on taking a strategic approach to every asset we market,” said Ed James, managing principal, Mumford Company. “Our overall pipeline for the rest of this year is extremely strong, and we attribute this to our extensive relationships and market intelligence, which allows us to help our sellers navigate today’s market.”
Mumford Company’s hotel brokerage professionals represent sellers of all major brands in markets throughout the United States. This background allows it to focus on opportunities within the marketplace. The firm’s regional offices include Georgia, Illinois, Texas, Virginia, and Washington, D.C.
