Mission Hill Hospitality announced it has acquired two new hotel assets in a single transaction; the Residence Inn Tuscaloosa, a 111-key hotel in Tuscaloosa, Ala., and the 103-key Home2 Suites by Hilton in Blacksburg, Va. Terms are undisclosed.
These are the 28th and 29th properties added to the Mission Hill Hospitality portfolio since the company was launched in March 2021. It is Mission Hill’s first acquisition in Alabama and its second in Virginia.
“The opportunity to acquire these two well-located assets aligns with our strategy to invest in core branded, select service hotels in stable and growing markets, especially those driven by higher education,” said Mike Wilbert, managing director at Mission Hill Hospitality. “Both the University of Alabama in Tuscaloosa and Virginia Tech in Blacksburg continue to be significant contributors to the growth and development of both cities and generate substantial demand for extended stay hotels.”
The Residence
