Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Candlewood Suites in Kingwood, TX. PLA was exclusively engaged to represent the seller in the transaction of the 73-room property. The marketing efforts were led by Managing Director Kami Burnette and Associate Mason McDavid.
The 77-room property is in the heart of Kingwood and is ideally located near the Kingwood Medical District. Future plans include converting the property to an Extended Stay America branded hotel.
“This is an unprecedented environment with numerous headwinds including COVID-related travel restrictions and frozen capital markets. We are excited to transact on behalf of the seller with a buyer who executed on a strategic plan to increase their footprint in the economy extended stay space,” stated Burnette.