Stonebridge Hospitality Management has recently acquired the W Hotel Atlanta Downtown, saving it from a public foreclosure auction. The 237-key hotel, which boasts a prime location overlooking Atlanta’s Downtown Connector, was purchased for $24.8 million – less than half of what Ashford Hospitality Trust paid in 2015.
The acquisition was made through a deed in lieu of foreclosure by Stonebridge, who saw potential in the property despite its troubled past. Completed in 2009 just before the credit collapse and subsequent Great Recession, the W Hotel faced declining demand upon opening and eventually went into foreclosure in 2010. Ashford then purchased it for $56.75 million five years later.
This recent transaction highlights Stonebridge’s expertise and strategic approach to hospitality management as they continue to expand their portfolio with quality properties like the W Hotel Atlanta Downtown.
