Mumford Co. closes 13 hotel deals in third quarter
The Mumford Co., based in Newport News, reports that it closed 13 hotel transactions in the third quarter, bringing the firm’s year-to-date transaction total to 32 closings in 13 states.
These properties included a variety of brand families as well as several independents.
‘’Positive operating results at the property level continue to drive buyer interest in the lodging real estate. Equity and debt are consistently flowing into the segment in virtually all asset classes,” Steve Kirby, a principal in the firm’s Atlanta office, said in a statement.
Mumford is a hotel real estate brokerage firm that focuses on the sale of mid-market and economy hotels. It has a sales team in five regional offices across the country, including the company's newly opened Washington, D.C., office.