The Montford Group. and Opterra Capital Acquire Aloft by Marriott at Charleston Airport & Convention Center
CHARLESTON, S.C. / BOCA RATON, FL. –OCT. 18, 2022
TMGOC Ventures LLC, a partnership between The Montford Group. and Opterra Capital announced that it has acquired the 136-key Aloft Charleston Airport and Convention Center hotel by Marriott, the only select-service lifestyle hotel at Charleston International Airport. TMGOC plans to invest nearly $3.0 million to renovate the property and has hired Aimbridge Hospitality, the nation’s largest third-party hotel management company, to operate the hotel.
TMGOC acquired the fee simple interest in the Aloft Charleston Airport hotel, making this their third Aloft-branded hotel under ownership. The transaction marks the 5th hotel acquisition in Charleston for the group, which has amassed 708 keys in the Charleston market, including four ground-up construction projects. The first is Moxy by Marriott which is currently under construction and scheduled to open first quarter of 2023.
“Charleston is home to The Montford Group. One of our priorities is to grow our local portfolio. We see strong market fundamentals in our hometown and growing demand in the Charleston Airport submarket with Boeing and the Uptown Tanger expansion,” said Sunju Patel, Founder and CEO of The Montford Group. “Charleston’s robust economic fundamentals and strong lodging market, combined with the City’s rich culture, have elevated it into one of the most popular destinations and one of the most sought-after markets for institutional investors. We are excited to add another Aloft hotel to our portfolio.”
Consistently ranked the past ten years the “Best Destination” in Travel + Leisure’s Readers’ Choice Awards, Charleston enjoys an enviable reputation as a top leisure and drive-to destination further supported by local corporate and regional group demand. “Only two miles from Charleston International Airport, the Aloft Charleston Airport hotel offers business and leisure travelers convenient access to the restaurants and shops at Tanger Outlets and a quick 15-minute drive to Historic Downtown,” said Glenn Alba, Founder and CEO of Opterra Capital. “Together with Aimbridge Hospitality, TMGOC plans to reposition the Aloft as the premier lifestyle hotel at Charleston International Airport.”
Aloft Charleston Airport hotel is home to 136 stylish guest rooms designed with the brand’s signature loft-like layout, featuring nine-foot ceilings and contemporary décor. Each pet-friendly guest room is equipped with free Wi-Fi, keyless Mobile Key entry, and a concierge tablet. The hotel features a XYZ bar, Re:mix℠ lounge with fresh coffee and tea, Re:charge℠ fitness center, Splash℠ indoor pool, dry cleaning services and complimentary on-site parking.
The Aloft Charleston Airport hotel is located at 4875 Tanger Outlet Blvd., and hotel reservations can be made through the Marriott website: https://www.marriott.com/en-us/hotels/chsal-aloft-charleston-airport-and-convention-center/overview/?scid=f2ae0541-1279-4f24-b197-a979c79310b0