Fidelity Management Group, Richmond Hill, Ga., recently acquired Tryp by Wyndham Savannah (Ga.) Downtown in partnership with HD Companies, a real estate development firm, for an undisclosed amount. The group bought the property from HOS Management. Other terms were not disclosed.
This acquisition marks the group's third joint-venture hotel project and they have more development projects in the pipeline. The hotel, which was built in 2008 and later converted to the Tryp by Wyndham Savannah Downtown, has 101 guestrooms, a fitness center, a business center and a signature restaurant. It is situated on Montgomery Street in Savannah's Historic District, surrounded by museums, churches, monuments, fine dining, boutiques, theaters and other attractions.
"We're excited to have found another opportunity to collaborate with HD Companies and invest in this unique and growing community," FMG Vice President Niraj Patel said in a statement.