MOBILE, ALABAMA Radisson Admiral Semmes Hotel in Mobile has been sold for US$3.5 million, or US$20,600 per key. Its franchise agreement with Radisson Hotels & Resorts was canceled following the transaction.
The hotel will operate as an independent under Preferred Hotel Group’s Historic Hotels of America affiliation.
Huff, Niehaus & Associates Inc. represented the seller, ASH II Ltd. The identity of the buyer was undisclosed, but that company reportedly owns Holiday Inn Downtown Historic, located across the street.
“This was a strategic sale for ASH II Ltd. with many of its 35-plus partners now retired and wanting to dispose of their last hotel—they had owned the Radisson Admiral Semmes Hotel since 1992,” says Brandt Niehaus, president of Huff, Niehaus & Associates. “The new owners plan an extensive renovation of more than US$4 million. Whether they will put a new flag on it is yet to be determined. The buyer enhances their position in the market and gains some operating efficiencies with two quality hotels in downtown Mobile.”