Real estate investment manager Noble Investment Group has announced the acquisition of the Hampton Inn and Suites Charlottesville – At The University.
The property is located on Main Street next to the University of Virginia and the UVA Medical Center.
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As part of the acquisition, the hotel will undergo a major renovation to upgrade all guestrooms and suites, meeting spaces and public areas.
The hotel is strategically located close to the Historic Downtown Mall which features more than 120 retail outlets and 30 restaurants.
Noble’s acquisitions and development vice-president Dustin Fisher said: “Charlottesville represents all of the key macro trends we proactively look for when identifying markets we believe will outperform as we enter a new lodging cycle.
“With its city-centre location, this property is well-positioned to capture market share across a diversified mix of leisure, healthcare and university demand generators.
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By GlobalData“Through our planned value-add renovation, we intend to further enhance the guest experience and solidify the property’s position as a top choice for travellers to the area”.
