Sharpco Hotels sells the Holiday Inn Alexandria Downtown for $9.8 million. Marcus & Millichap brokered the sale of the 168-room hotel in downtown Alexandria, La. The buyer, VJ Hotels, a Tennessee-based investor group, plans further enhancements in collaboration with ARK Hospitality, a Texas-based hotel management company.
“The sale of the Holiday Inn Alexandria Downtown exemplifies the strength of Alexandria’s hospitality market and underscores investor interest in well-located, renovated assets,” David Altman, first vice president investments said in a statement. “Sharpco Hotels’ extensive redevelopment of this property has elevated its standing as a downtown destination, and we’re pleased to have matched them with VJ Hotels, whose strategic vision will ensure its continued growth and service to the community.”
Originally purchased from the city of Alexandria as an abandoned building, Sharpco Hotels revitalized the property with a comprehensive renovation, securing the Holiday Inn brand for the hotel. The buyer, VJ Hotels, a Tennessee-based investor group, plans further enhancements in collaboration with ARK Hospitality, a Texas-based hotel management company. Steve Greer is Marcus & Millichap’s broker of record in Louisiana.
The seven-story hotel was constructed in 1984 and renovated in 2022. Amenities include a restaurant, Tesla superchargers, more than 11,000 square feet of meeting space, and direct access to the 67,000-square-foot Randolph Riverfront Convention Center, making it a prime destination for both business and leisure travelers. Its downtown location offers proximity to regional employers, including Procter & Gamble, Rapides Regional Medical Center and LSU Alexandria, as well as significant military business from Fort Johnson.