Sharpco Hotels proudly announces the successful sale of the Holiday Inn Alexandria Downtown for $9.8 million, facilitated by Marcus & Millichap. This 168-room, seven-story hotel in the heart of Alexandria, Louisiana, was acquired by VJ Hotels, a Tennessee-based investor group, with plans to elevate the property further in partnership with ARK Hospitality, a Texas-based hotel management company.

Originally an abandoned building purchased from the city of Alexandria, Sharpco Hotels transformed the property through an extensive 2022 renovation, securing the prestigious Holiday Inn brand. The revitalized hotel now stands as a premier downtown destination, offering modern amenities such as a restaurant, Tesla superchargers, and over 11,000 square feet of meeting space. Its prime location, with direct access to the 67,000-square-foot Randolph Riverfront Convention Center, makes it ideal for business and leisure travelers alike. The hotel’s proximity to major employers like Procter & Gamble, Rapides Regional Medical Center, LSU Alexandria, and Fort Johnson ensures steady demand.

“The sale highlights the strength of Alexandria’s hospitality market and the appeal of well-located, renovated properties,” said David Altman, First Vice President Investments at Marcus & Millichap. “Sharpco Hotels’ redevelopment has elevated this hotel’s status, and VJ Hotels’ vision will ensure its continued success.”

For more details on this transaction, read the full article on Hotel Management.