ATLANTA – Hunter Hotel Advisors is pleased to announce the sale of the Hilton Garden Inn Durham-Raleigh/Research Triangle Park, North Carolina. An institutional seller sold the property to SREE Hotels for an undisclosed amount. Mayank Patel, Senior Vice President of HUNTER, arranged the sale on behalf of the seller.
“ We couldn’t be more pleased with this acquisition and the long-term potential it holds. We sincerely
appreciate the work of Mayank and the HUNTER team as we look forward to more growth opportunities in the near future.” said Parag Patel, Chief Financial Officer and Chief Development Officer of SREE Hotels.
The Hilton Garden Inn Durham-Raleigh provides 177 rooms to the high-traffic area. The hotel is at the circumcenter of North Carolina’s largest universities; Duke University, the University of North Carolina Chapel Hill, and North Carolina State University all within 13 miles of the property. Just ten minutes from Downtown Durham, the hotel is five miles away from the Raleigh-Durham International Airport. The property sits at the epicenter of Research Triangle Park, the largest continuously operating research park in North America, covering 7,000 acres and home to more than 300 research, technology, and ag-bio companies that employ more than 65,000 workers. The area houses several headquarters and corporate offices including Lenovo, IBM, Wolfspeed, Dell Technologies, United Therapeutics Corporations, and many more that drive demand to the hotel.