Close

Cart

Total $0.00

Checkout

Germantown, Tenn. – Oct 4, 2018 –  McNeill Hotel Investors (“McNeill”) announced today that it has acquired the 137-room Homewood Suites by Hilton in Carmel, Indiana, expanding its geographic footprint to the Midwest and adding to the company’s existing portfolio of 18 hotels owned or managed by the affiliated McNeill Hotel Company. The announcement was made by Chief Executive Officer Phillip McNeill, Jr.

Located off I-465 and US-31 N, the property is located 13 miles north of downtown Indianapolis, and has a diverse employment base comprised of healthcare, technology, and e-commerce industries.

Carmel, the fifth-largest city in Indiana, is recognized by Money magazine as one of America’s best places to live. It is home to the Meridian Corridor and its more than 40 corporate headquarters. Popular attractions in Carmel include the Carmel Monon Community Center, the Carmel Arts & Design District and Carmel City Center, a 1-million square foot, $300-million arts and entertainment district. 

“This property is a great strategic fit for us as we expand to the Midwest,” McNeill said. “Carmel has been one of the fastest growing communities in the nation and we have great experience with extended stay properties, as they comprise about half of our existing portfolio of hotels.”

The acquisition by McNeill Hotel Investors was facilitated by growth capital recently secured by McNeill through New York-based Almanac Realty Investors, LLC.

The Hotel underwent a comprehensive $6.4 million renovation that was completed in the Fall of 2016, repositioning it from a DoubleTree Suites to a Homewood Suites by Hilton. McNeill’s property improvement plan includes a $1 million investment that will be spent on new guest room televisions and significant exterior upgrades to include the façade, roof, landscaping and parking lot.

“These upgrades will enhance the competitive posture of an excellent property with great location in a prosperous commercial corridor,” added Mark Ricketts, the company’s President and Chief Operating Officer.

About McNeill Hotel Company

Headquartered in Germantown, Tennessee, McNeill Hotel Company is built on a foundation of trust, pursuit of excellence and a philosophy of “people serving people.”  The firm focuses on select-service hotels with a growth strategy based on a mix of new hotel development, meaningful acquisitions and third party management agreements. The company is an approved franchisee for both Marriott and Hilton. Phillip McNeill, Jr. and Mark Ricketts, the company's principals, are 2nd generation hoteliers with over 60 years of combined institutional experience in the hotel industry, encompassing nearly every discipline of the business. For more information, visit www.mcneillhotels.com

Contact: Mark Ricketts

mricketts@mcneillhotels.com / 901-322-4806

Related News

Driftwood Acquisitions & Development Enters California Market With $85.7 Million Acquisition of 353-Key Marriott Mission Valley in San Diego

HP Hotels Adds Three Texas Hotels to Management Portfolio

Glenmont Acquires Radisson Hotel Cleveland-Gateway to Be Rebranded as Hotel Indigo Following Comprehensive $7 Million Renovation

Apple Hospitality REIT Acquires Hampton Inn & Suites by Hilton Downtown St. Paul $31.7 million, or Approximately $198,000 Per Key

McNeill Hotel Investors Acquires Hampton Inn & Suites by Hilton and Springhill Suites by Marriott in Columbia, Maryland

The Greenwich Hospitality Group (GHG) Completes $23.2 million Acquisition of West Bay Beach Holiday Inn Resort in Traverse City, Michigan

Xenia Hotels & Resorts Sells Residence Inn Denver City Center for $92 Million

McNeill Hotel Investors Acquires Home2 Suites By Hilton Mobile

AJ Capital Partners Acquires The Chancellor Hotel in Fayetteville, Arkansas to Be Renovated and Rebranded as a Graduate Hotel

McNeill Hotel Investors Acquires Hilton Garden Inn Beaverton in Oregon

Xenia Hotels & Resorts Sells Hilton Garden Inn Washington D.C. for $128 Million

McNeill Hotel Investors Opens Homewood Suites by Hilton Athens

Excel Group Acquires the Residence Inn by Marriott Wilmington Downtown in Wilmington, DE

McNeill Hotel Investors Acquires Home2 Suites by Hilton Gainesville (Florida)

Pandox Acquires The Midland Manchester in the UK for for £115 Million ($151.3 Million)

Rockbridge Acquires Hilton at the Arch in Downtown St. Louis

Vesta Hospitality Acquires Embassy Suites Jacksonville Baymeadows in Jacksonville, Florida

DoubleTree by Hilton Deerfield Beach - Boca Raton, Florida Acquired by the Vista Hospitality Group

Paramount Lodging Advisors (PLA) Sells the Four Points by Sheraton & Banquet Center Sacramento International Airport

Manga Hotels Acquires the Hampton Inn & Suites Buffalo Airport

All News »

Please login or register to post a comment.