Mumford Company Completes Sale of Fairfield Inn, Beckley WV
22nd transaction of 2010
Newport News, VA - October 7, 2010 - The Mumford Company was pleased to once again represent affiliates of H&W Hotels in the sale of the Fairfield Inn of Beckley, West Virginia to Greatway Hospitality, LLC. The sellers' purchased the property in 2005 via Mumford Company and have made significant improvements to the property as well as the business over the years. This was the eighth transaction that Mumford Company has completed with H&W Hotels.
The purchaser is an active hospitality investor with holdings in West Virginia and the Midwest. They plan to make extensive renovations to the hotel, convert it to the Fairfield Inn & Suites brand and capitalize on the strong existing business base.
Beckley functions as southern West Virginia's commercial hub. The 5 story, 89 room, interior corridor property is located at a vibrant lodging interchange. Several strong demand generators including New River Gorge recreational activities, Mountain State University and the Tamarack Center all contribute to a solid demand base in the area.
David Mumford with the Mumford Company's Newport News, Virginia office and Steve Kirby with the firm's Atlanta, Georgia represented the seller.
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