Commonwealth Lodging Affiliate Acquires Courtyard by Marriott in Oxford, Mississippi

OXFORD, MS, UNITED STATES, November 12, 2024 /EINPresswire.com/ -- Commonwealth Lodging Management, LLC – a well-respected and established hospitality management firm based in Virginia Beach, VA – acquired the 121 room Courtyard by Marriott in Oxford, Mississippi for $18,625,000. This asset represents the firm’s first investment in the Magnolia State. The hotel will be modernized via a $3.7mm renovation to Marriott’s latest décor package, and Commonwealth Lodging will immediately implement its hands-on management to improve the overall guest experience in the hotel.

Adjacent to the University of Mississippi (“Ole Miss”), the property is the closest branded hotel to the university, and it is strategically located between the Ole Miss campus and downtown Oxford. The Square, downtown Oxford’s historic cultural and economic hub, is within an 8-minute walk from the hotel. Part of the $3.7mm renovation includes reactivating the closed rooftop restaurant and bar with a new concept, appropriately themed to the market.

Commonwealth Lodging will oversee all operations and repositioning of the hotel.  “We are pleased to grow our investment footprint in the South and look forward to executing our management strategy for this quality hospitality asset. The hotel is uniquely positioned with a great brand, in a great location, and we are excited to develop a best-in-class team onsite that clearly positions this hotel as the market leader,” said Ed Denton, Chief Development Officer of Commonwealth Lodging.

About Commonwealth Lodging Management, LLC 
Commonwealth Lodging, a Virginia based hospitality management and consulting firm, is a wholly owned subsidiary of Commonwealth Commercial Partners and has extensive experience with nationally recognized select- and full-service franchises operating in suburban, secondary and tertiary markets throughout the United States.​ The company specializes in focused, hands-on hospitality management to stabilize property operations, improve cash flow, and deliver outsized risk adjusted returns to our investors. To learn more, visit commonwealthlodging.com. 

Taylor Fodill
Commonwealth Commercial Partners
+ +1 804-256-0891
tfodill@commonwealthcommercial.com
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