Greensboro-based CN Hotels, a privately owned, fully integrated hotel ownership, development, and operating company, has acquired the Rock Hill Holiday Inn at 503 Galleria Blvd.
Located right off of I-77 and Dave Lyle Boulevard, Holiday Inn Rock Hill is a full-service, nonsmoking hotel. This hotel is near Manchester Meadows, Winthrop University, and other great local attractions, so there are plenty of things to do nearby. With the acquisition, CN Hotels also takes control of the on-site restaurant, Kems Restaurant and Bar. This restaurant serves breakfast and dinner under Chef Roshan Singh, offering an array of delicious and diverse menu options.
“This was a challenging deal as it required us to navigate multiple headwinds, including new hotel supply in the market, tight timelines for seller’s maturing debt, a franchise-mandated property improvement plan and multiple prior attempts to sell the property through other brokers,” Rick Redmond, a director of hospitality at Cushman & Wakefield, said in a press release. “After fielding 12 offers, we were able to transact by demonstrating future cash flow and upside in the property, which can be achieved through new management and completion of an improvement plan.”
Cushman & Wakefield has arranged the sale of Holiday Inn Rock Hill, a 114-room property in Rock Hill, SC, according to a news release. The commercial real estate company represented the seller, Kismet Rock Hill LLC, in the transaction. The five-story hotel was built in 2009 and includes a banquet room, restaurant, bar, and indoor pool. As part of the acquisition, the buyer will maintain the Holiday Inn by the IHG brand and make necessary improvements.
