The Microtel Inn & Suites by Wyndham Baton Rouge Airport, a 78-room property, has been sold to a group of investors for $3.8 million.
JAY VMS LLC bought the hotel at 3444 Harding Blvd, according to officials with Marcus & Millichap, which had the listing for the hotel. The seller was BBS Hotel 1 LLC, based out of Harahan.
David J. Altman, a senior associated in Marcus & Millichap’s Fort Lauderdale, Florida, office, who was one of the representatives of the buyer and seller, said BBS is made up of a group of partners in Louisiana and Florida who built the airport Microtel in 2009. The sellers decided it was an ideal time to move on to another investment.
The buyers are based out of Louisiana and Alabama, who own multiple hotels across the Gulf Coast. Altman said they plan to spend about $200,000 to $300,000 on the Microtel on improvements such as new furniture and paint in the guest rooms and lobby renovations.
Chris Shaheen was Marcus & Millichap’s broker of record in Louisiana.