Blair Allen, seated, Matthew Allen, left, and Wally Allen are the managing principals of Beechwood Hospitality, a family-owned hotel management firm headquartered in Little Rock. The group recently acquired three hotels in Bentonville and another in Fayetteville for a combined $48 million.
A group of Little Rock investors has combined to spend $48 million on the acquisition of four hotels in Northwest Arkansas.
According to county real estate records, entities controlled by Wally Allen, Blair Allen and Matthew Allen paid $36.2 million for a trio of properties in Bentonville, all on Walton Boulevard — $19 million for DoubleTree Suites by Hilton (140 rooms) at 301 S.E. Walton Blvd., $5.4 million for Best Western Plus Castlerock Inn & Suites (83 rooms) next door at 501 S.E. Walton Blvd., and $11.8 million for Hilton Garden Inn (133 rooms) at 2204 S.E. Walton Blvd.
The group also shelled out $11.8 million for Staybridge Suites (109 rooms) at 1577 W. 15th St. in Fayetteville.
All four deals closed April 15, and the purchase price equals $103,225 per room.
Wally Allen is... [ MORE ]