Courtyard by Marriott Acquired in West Paducah, Kentucky
Palm Beach, FL — Blue Cougar Hospitality and a US-based investment management company have acquired the Courtyard by Marriott Paducah West hotel in Paducah, KY. The purchase is the first transaction funded through a $50 million joint venture raised by Hospitality Funding, LLC for the purpose of acquiring select-service hospitality assets. The property’s management has been transferred to Interstate Hotels & Resorts, Inc., the country’s largest independent hotel management company.
The 100-key hotel is ideally located halfway between Nashville and St. Louis off of Interstate-24, and is the only major stopping point for motorists. The property underwent a comprehensive $1.6 million renovation in 2011, and features 1,000 square feet of meeting space, a Bistro, indoor swimming pool and whirlpool, fitness center, business center, market, and guest laundry room.
About Hospitality Funding: Hospitality Funding is a boutique investment advisory firm focused on raising equity, mezzanine, and debt financing for the acquisition of all types of hospitality assets. Hospitality Funding works with superior owners to find capital solutions that fit their specific goal for property acquisition, development and refinance. For more information, please visit www.hospitalityfunding.com.