NEWPORT NEWS, VA—Mumford Company, a full-service hotel advisory firm since 1978, announced today it completed the sale of the Holiday Inn Mobile – Airport, located in Mobile, Alabama
Ed James and Steve Kirby, Managing Principals of Mumford Company, represented the seller, an operator, developer, and investor in premium-branded, select and limited-service, and extended-stay hotel assets in the sale of the asset to a Mobile-based developer with multiple properties along the Gulf Coast. This was the second asset Mumford has sold for this seller in the last year and their fifth transaction with the purchaser.
“The Holiday Inn Mobile was a strategic acquisition for the purchaser since it allows them to establish a foothold in this dynamic and growing submarket. By utilizing their operational efficiencies and marketing synergy with their other Gulf properties, they will be able to enhance top and bottom-line performance,” said Steve Kirby, Managing Principal, Mumford Company. “This was our second transaction with this seller, allowing them the ability to right-size their portfolio in today’s market. Mumford Company appreciates the trust its clients’ place on them to ensure their portfolio is strategically aligned with their current goals.”
The four-story, 97-room property is located near the airport and within minutes of Springdale Mall and The Shoppes at Bel Air. It is extremely close to Airbus’ only US manufacturing facility, the University of South Alabama, Port of Mobile, and the USS Alabama Battleship Memorial Park.