For immediate release
[Greenwood, South Carolina – 03/15/2023]
Lodging Partners is pleased to announce it has arranged the sale of the Inn on the Square, a Boutique Hotel in Greenwood, South Carolina. Lodging Partners exclusively represented the seller in this transaction, with the marketing and negotiations led by Ford Barton, Principal of Lodging Partners, a member of Hotel Brokers International. The Hotel has been acquired by an affiliated entity of Edgewater Group LLC (Edgewater) based in Naples, Florida. Edgewater, a private equity group with a focus on upscale boutique hotels in secondary and tertiary locations, plans to reposition the Hotel to the Ascend Hotel Collection. This is the second hotel that Edgewater has purchased through Lodging Partners.
The full-service property traded for $4,800,000 or approximately $98,000 per room. The Boutique Hotel features a restaurant, bar, and meeting space. The Inn on the Square is conveniently located in the center of Greenwood shopping and dining district and is close to many corporate demand generators.
“Despite many complexities prior to closing this transaction, we are pleased to have received such strong interest in this asset for our client. High quality assets continue to be in strong demand throughout the Southeast, and we are grateful for our deep connections to qualified buyers that led to the successful sale of this Boutique property,” noted Ford Barton.
Lodging Partners is a specialized hotel brokerage and advisory firm focused on the sale of select-service hospitality investment properties on behalf of institutional and private investors throughout the United States. In the past 12 months, Lodging Partners has completed over $68 million in hotel transactions throughout the Southeast. Lodging Partners has had an advisory role in recent hotel transactions across most major hotel brands, including Marriott, IHG, Best Western, Choice Hotels, Wyndham, and Radisson Hotel Group. The firm offers a wide range of hotel real estate services with an unwavering commitment to client service. Lodging Partners may be accessed online at www.lodging-partners.com.
Founded in 1959, Hotel Brokers International members lead the industry in hotel real estate sales. HBI hotel brokerage specialists have successfully negotiated more than 11,000 hotel real estate transactions and consistently account for the largest share of all select-service and economy hotel sales in the United States. HBI is the founder and administrator of the Certified Hotel Broker Program, the real estate industry’s only professional designation program for hotel brokers. In addition to hospitality real estate advisory services, HBI offers affiliate membership to professionals in allied fields, including franchising, lending, appraisals, and investment services. For more information about HBI, HBI members and their hotel listings or to become a broker or affiliate member, visit www.hbihotels.com.
Lodging Partners, LLC
Charlotte, North Carolina
Hotel Brokers International
Kansas City, Missouri
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