Mumford Company was pleased to once again facilitate a successful hotel transaction in the Richmond Metro market with the sale of the Best Western Plus Governor’s Inn. The sellers, a regional hotel ownership group, strategically streamlined their hospitality portfolio to focus on higher-end lodging assets and upscale hotel investments.
The buyers, a local investment partnership entering the hospitality industry, plan to complete significant hotel renovations while maintaining the highly recognized Best Western Plus brand affiliation. The acquisition represents continued investor confidence in the Richmond hospitality market and the long-term value of branded hotel properties.
Mumford Company’s hospitality brokerage team, led by Justin Pinkard, Managing Principal and Carter Willcox, Vice President, successfully guided the transaction from marketing through closing.
Pinkard stated, “This hotel sale is a testament to the patience, persistence, and unwavering commitment demonstrated by both the buyer and seller throughout the transaction process. In today’s economic environment, complex hotel deals require strategic collaboration, market expertise, and a shared vision for the asset’s long-term growth potential.”
About Mumford Company
Mumford Company was established in 1978 to provide top-quality hotel brokerage services and has a team of brokerage professionals with broad experience in all aspects of lodging acquisitions, development, consulting, and operations. They represent sellers of most major brands in markets throughout the country, and their diverse background allows them to have an awareness of key opportunities within the marketplace, so they can accurately position their client’s assets to maximize their investment results. The firm has an experienced sales team in regional offices across the country, including Newport News, Virginia; Atlanta, Georgia; Chicago, Illinois; Dallas, Texas, Washington D. C. and the newly opened Philadelphia, Pennsylvania office. Their track record of success for buyers and sellers made Mumford Company a leader for the last 48 years while upholding the values of the company from when it first began. For more information or to put the Mumford Company team to work for you, please contact Mumford at 757-873-0962, or by e-mail at
sales@mumfordcompany.com
