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hotel in Augusta has been sold after being on the market for several months. The Red Roof Inn/HomeTowne Studios at 3030 Washington Rd. was listed for $4 million, down from an initial asking price of $4.9 million when it first appeared last May. Cushman & Wakefield handled the transaction, but neither the buyer nor seller has been publicly disclosed.
The new owner plans to continue operating the hotel as a dual-branded property and invest in renovations. The hotel was originally opened as a Hampton Inn in 1986 before changing brands to Red Roof in 2017.
This sale comes on the heels of the opening of a new dual-branded Fairfield and TownePlace Suites by Marriott in Grovetown, just weeks ago. The new hotels will be located next to an existing Plamondon Hospitality Partners property, Home2Suites by Hilton Grovetown, which opened in 2016.
Grovetown is experiencing rapid growth, with hotel companies like Plamondon seeing potential for diverse lodging options. Matt Ricker, general manager of the dual-branded Fairfield and TownePlace Suites, expressed excitement about being part of this growth, citing the success of their existing Home2Suites location in the area.
