The Comfort Suites in Lake Charles, La., was recently sold by Shankara in a deal facilitated by Mumford Company. Other terms and conditions were not disclosed.
Mumford Company’s Burton Brooks and David Mumford represented Shankara in the sale of the hotel, which was acquired by a local operator. According to the Newport News, Va.-based brokerage firm, upside is anticipated through additional demand created by the largest economic development project in the state’s history at the LNG exploration and terminal facilities.
Built in 2009, the three-story, 70-room hotel includes all-suite rooms, an outdoor pool and a fitness center.
“Our purchaser is planning to significantly invest in the physical plant to achieve growth in both occupancy and ADR while offering the best product in the market,” Burton Brooks of Mumford Company, said in a statement.