May 17, 2022 - Mission Hill Hospitality, a KSL Capital Partners portfolio company focused on transforming select service and extended stay hotel investing, has announced that it has acquired two assets in Savannah, GA, the 135-room Aloft Savannah, and the 140-room Fairfield Inn & Suites. These properties are the 20th and 21st hotels added to the Mission Hill Hospitality portfolio.
“The Savannah leisure-oriented market is maturing and diversifying with more than $2 billion of commercial investment in the past few years,” said Greg Kennealey, CEO of Mission Hill Hospitality. “Mission Hill is excited to expand in Savannah with these two recently built, premium select-service hotels in a growing, drive-to leisure Sun Belt market.”
Built in 2017 and 2020 respectively, the 140-room Fairfield Inn and Suites and the 135-room Aloft blend into the aesthetic charm of Savannah’s Historic District, featuring a brick exterior and durable construction. Together, the properties have a combined 3,595 SF of meeting space, business center, 24-hour fitness center, while the Aloft has an indoor pool and retail space and the Fairfield has an outdoor heated pool.
The hotels are located in the Historic District at the crossroads of Martin Luther King Jr. Boulevard and West Oglethorpe Avenue, less than a 10-minute walk from the Riverfront. The Historic District of downtown Savannah is the nation’s largest historic landmark district and a destination for nearly 15 million visitors annually. The Historic District’s highly walkable community is packed with leisure amenities for visitors including restaurants, museums, public squares, and historic destinations. Savannah is filled with 22 public parks and squares placed in a grid throughout the Historic District. The hotels are just a seven-minute walk from the Savannah City Market and less than a mile from the Plant Riverside Entertainment District, the iconic Forsyth Park, and the Georgia State Railroad Museum.
Savannah has seen more than $4 billion of commercial investment in the last decade, nearly half of which has been invested since 2018, including the $1 billion Savannah Port Expansion, the $375 million Plant Riverside Entertainment District, the 58-acre, $600 million Eastern Wharf development, and the $270 million expansion of the Savannah Convention Center, which is projected to be completed in 2023.
Savannah is home to the fourth busiest port in the nation and the Savannah/Hilton Head International Airport is located six miles west of the hotels. The city contains 18 universities and colleges with annual enrollment of approximately 65,000 students, including the Savannah College of Art and Design (SCAD) with a student population of 15,000. The city’s annual events such as the Savannah Film Festival, Savannah Music Festival, and St. Patrick’s Day celebration draw visitors from all over the U.S. Savannah’s appeal as a national leisure destination continues to grow and the city was recently ranked #3, “Top Cities in the U.S.” by Travel + Leisure.