Finance & DevelopmentMumford Company Starts 2024 With Multiple Transaction Closings

Mumford Company Starts 2024 With Multiple Transaction Closings

NEWPORT NEWS, Virginia—Mumford Company announced it had a strong start in 2024, with multiple transactions closing in the first quarter of 2024.

“The Federal Reserve’s decision to pause interest rate increases, coupled with strong economic indicators, has encouraged buyers to acquire hospitality properties,” said Steve Kirby, managing principal, Mumford Company. “While we are experiencing minor economic headwinds, buyer interest remains robust. It’s a good time to be a seller.”

Some of their recent transactions include:

  • Holiday Inn Express & Suites Forest, located in Forest, Mississippi
  • Best Western Lake Cumberland Inn, located in Monticello, Kentucky
  • Best Western Historic Area Inn, located in Williamsburg, Virginia
  • Best Western Chincoteague Island, located in Chincoteague, Virginia
  • Days Inn by Wyndham Huntington, located in Huntington, West Virginia
  • La Quinta Inn by Wyndham Moss Point-Pascagoula, located in Moss Point, Mississippi
  • Holiday Inn Express & Suites Farmville, located in Farmville, Virginia
  • Hampton Inn Farmville, located in Farmville, Virginia

“Mumford Company is seeing strong buyer interest from purchasers,” said Ed James, managing principal, Mumford Company. “Buyers want deals that make sense financially and where they can increase their margins with some cosmetic improvements or possible re-branding.”