Sale of the Radisson Hotel, New London, CT Brokered by Mumford Company
Newport News, VA - July 12, 2011 - Mumford Company represented PNL I, LLP in the recent sale of the Radisson Hotel of New London, Connecticut to J&H Hospitality, LLC.
The buyers utilized SBA financing from a regional bank to complete this acquisition. They plan to make extensive renovations to the hotel and convert it to the Holiday Inn brand over the coming months. The hotel has been a solid performer in the recent past and the buyers' feel that this renovation and re-branding strategy will yield even stronger results.
The 120 room, full-service hotel is located in the heart of downtown New London. The property is conveniently located to Interstates 95 and 395, the US Coast Guard Academy, Connecticut College and the Foxwoods and Mohegan Sun casinos.
David Mumford and Ed James with the Mumford Company's Newport News, Virginia office represented the seller.
Mumford Company's commitment to results-oriented customer service has yielded outstanding client results for over 33 years. With its' experienced sales team in four regional offices across the country, Mumford Company is a leader in the sale of mid-market and economy hotels. For more information contact Mumford Company at (757) 873-0962.
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