Banyan Investment Group Completes Acquisition of 101-Room Hotel Indigo Tuscaloosa Downtown in Alabama

Hotel Indigo Tuscaloosa Downtown, 111 Greensboro Avenue, downtown Tuscaloosa, directly overlooking the Black Warrior River

                

TUSCALOOSA, AL --Banyan Investment Group, an Inc. 5000 recognized hotel investment and management company that acquires and manages select-service hotels in the United States, announced the company completed the acquisition of the 101-room Hotel Indigo Tuscaloosa Downtown in Ala. 

 The company also will operate the hotel and oversee a $500,000 refurbishment of The Lookout, downtown Tuscaloosa’s only rooftop bar, along with the public areas of the hotel.  This marks Banyan Investment Group’s ninth acquisition from its recently launched BIG Hotels LP I, LLC fund.

Andy Chopra

                “We continue to seek hotel acquisition opportunities that meet our strict criteria, namely strong brands in well-established markets with recession-resistant demand generators like universities and hospitals,” said Andy Chopra, founding principal and chief investment officer, Banyan Investment Group. 

 “The recently built, Silver LEED-certified hotel further benefits from its unmatchable location immediately off the Tuscaloosa Riverwalk with direct views of the Tuscaloosa Amphitheater, the largest outdoor music venue in West Alabama. 

"Following the completion of the nearly half-million-dollar refurbishment of the Lookout rooftop bar, along with improvements made to hotel public areas, we fully expect the hotel to increase its bottom-line profitability with the goal of the exceeding yield expectations for our investors.”

Contact:              

 Chris Daly, media

 (703) 864-5553

 chris@dalygray.com