|ATLANTA, Georgia, August 2, 2004 - Thompson Calhoun Fair, LLC, an Atlanta-based
hotel real estate firm, announced today that it advised Gateway Hotels,
Inc. in the disposition of the Holiday Inn Midtown in Savannah, Georgia.
The hotel is located in a commercially oriented, mid-market area located
on Abercorn Street, the major street artery that traverses the city and
provides access from Interstate 95 to historic downtown Savannah. Constructed
in 1982, the property is a 171-room hotel encompassing over 2,755 square
feet of function space including the Magnolia Ballroom, which is divisible
into four meeting rooms. The Holiday Inn Midtown also offers a restaurant,
lounge, outdoor swimming pool and fitness center. The property was sold
to Stafford Savannah, LLC of Tifton, Georgia, for an undisclosed amount.
of clients in all segments of the hotel industry. Founded in 2000,
Thompson Calhoun Fair is headquartered in Atlanta and is national in scope.
Thompson Calhoun Fair can be found on the Web at www.tcfhotels.com.
|Keith Thompson, a partner the firm
stated, “The transaction was very timely for both the seller and the buyer.
The seller is relocating his operational hub from the Savannah market and
the buyer is expanding on an already large commercial real estate portfolio
in the Savannah area. The transaction should be very accretive to the buyer’s
investment due to the stability of the Savannah lodging market.”
About Thompson Calhoun Fair
Thompson Calhoun Fair was formed to focus on servicing the transaction
From the left - Al Calhoun, Mark G. Fair (sitting),
and H. Keith Thompson