Evergreen Hospitality purchased the Staybridge Suites Louisville–East, a 94-room extended-stay hotel located in Louisville, Ky. in a deal brokered by Hunter Advisors. The property was sold by a private investment firm in a transaction brokered by David Perrin and Tim Osborne, senior vice presidents at Hunter Advisors. Other terms and conditions were not disclosed.
“We are grateful to have added another extended-stay hotel to our portfolio,” said a representative at Evergreen Hospitality in a statement. “We would like to thank all parties involved and are pleased to have completed a smooth and timely transaction. In particular, we commend David and Tim for their insight and professionalism in guiding the transaction from beginning to close.”
Located off Interstate 64, the Staybridge Suites Louisville–East is situated within a dense corporate and industrial corridor, supported by nearby employers including the Papa Johns Quality Control Center and GE Appliance Park, with convenient access to Louisville Muhammad Ali International Airport.
“Extended-stay remains a lodging segment that continues to attract investor interest,” Perrin said. “The property’s combination of solid location, stable demand drivers, and defined operational upside reflects the broader appeal of this asset class.
“The buyer plans to execute a comprehensive renovation of the property to the latest Staybridge standards to increase market share,” added Osborne.
The three-story hotel has suites equipped with full kitchens and offers amenities designed for extended-stay guests, including complimentary breakfast, a 240-square-foot meeting room, outdoor pool, fitness center, business center and on-site laundry facilities.