Keshav Management has acquired the 127-key Hyatt Place Pensacola Airport, marking the company’s first acquisition within the Hyatt brand.
Savannah, Ga.-based Keshav Management acquired the property from Innisfree Hotels in a deal facilitated by HREC Investment Advisors. The hospitality and asset management company also owns and operates properties affiliated with Marriott, Wyndham and Choice Hotels. The acquisition expands its portfolio into the Hyatt brand family.
The Hyatt Place is located on the grounds of Pensacola International Airport and is connected to the passenger terminal by a covered walkway. The property is approximately 5-6 miles from downtown Pensacola and provides access to Interstate 10.
HREC Investment Advisors represented Gulf Breeze, Fla.-based Innisfree Hotels in the transaction. The marketing and negotiations were led by Michael Salloway, SVP in Atlanta; Tammy Bateman-Nilsen, SVP in Orlando; Paul Sexton, principal and broker of record for Florida; and George Davis, senior associate in Denver.