A pair of hotels in Fayetteville recently sold for a combined $3.72 million.
Northwest Arkansas Hospitality and Lodging LLC, controlled by Little Rock-based hotel management company Pinnacle Hotel Group, bought the Fairfield Inn by Marriott at 720 E. Millsap Road.
HSB Shiv LLC, also an affiliate of PHG, bought the adjacent Sleep Inn at 728 E. Millsap Road.
TMI Hospitality of Fargo, North Dakota, through its Midwest Heritage Inn of Fayetteville Inc. entity, was the seller of both properties.
Centennial Bank in Fayetteville financed the deals.
The new ownership group is planning to update the Fairfield Inn property and convert it to a La Quinta Inn & Suites.
Both three-story properties have 61 units.
A retail/office/warehouse strip center just off Arkansas Highway 102 in... [ MORE ]