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Condor Hospitality Trust acquires S.C. hotel for $16M

(j-foto / Depositphotos.com)

(j-foto / Depositphotos.com)

Condor Hospitality Trust Inc., a hotel REIT based in Bethesda, announced plans to buy a hotel for $16.325 million.

Condor expects to close the deal for the 93-room Home2 Suites by Hilton in Summerville, South Carolina in the late first quarter or early second quarter of 2018.

Bill Blackham, Condor’s chief executive officer, said in a statement that he believes the hotel will achieve strong revenue growth because of a growing population and corporate demand in Summerville, a suburb of Charleston.

The hotel will probably be managed by a new management company partner for Condor, according to the company.

 


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