Five Star Group purchases the 93-key Courtyard Dalton (Ga.) from an institutional seller. Other terms and conditions were not disclosed. Hunter Hotel Advisors' Mayank Patel, senior vice president, facilitated the transaction.
“The acquisition of Courtyard Dalton represents a consistent opportunity for continued expansion in a submarket that has performed well for us,” Anish Govan, managing principal of Five Star Group, said in a statement. “We anticipate significant upside with investment and operational synergies and plan to allocate substantial capital expenditures to further enhance returns on the investment. Mayank and the Hunter team demonstrated a high level of professionalism and industry knowledge, making them an invaluable partner in our expansion efforts.”
Centrally located off I-75, the Courtyard Dalton is situated in the Carpet Capital of the World within proximity to manufacturing hubs including Shaw Industries and Mohawk Industries, anchoring economic growth for the region. Dalton, the second largest city in northwest Georgia, sits at the foothills of the Blue Ridge Mountains with convenient access to Chattanooga and Atlanta, placing the hotel at a strategic intersection of Southeastern markets. Also near by is the 255-bed Hamilton Medical Center as well as Dalton State College, which accommodates a student body of over 5,000.
“We are grateful for the continued trust the seller has in our team at Hunter,” said Patel. “The Courtyard Dalton was a very competitive process with numerous qualified bidders. The Five Star team separated themselves with aggressive terms and closed on the hotel earlier than expected.”
The 2016-renovated Courtyard Dalton has thoughtfully designed guestrooms catering to both leisure and business travelers. Amenities include an on-site fitness center, an indoor pool and a full-service restaurant offering cooked-to-order breakfast and dinner.