Jones Lang LaSalle Hotels has arranged the sale of Memphis Marriott East on behalf of MassMutual, the Springfield, Massachusetts Insurer.Ê The property was purchased by Columbia Sussex, a prominent owner of Marriott hotels throughout the country.
The 320-room property offers excellent accessibility to the Memphis International Airport, Elvis’ Graceland and downtown Memphis. It features 16,000 square feet of recently renovated and state-of-the-art meeting space in 15 flexible rooms.
“The Memphis Marriott East is the best, full-service hotels in the Memphis airport submarket,” said Alan Tantleff, executive vice president for Jones Lang LaSalle Hotels’ New York office, who spearheaded the transaction. “The hotel will benefit from improving market conditions and continued economic recovery in the area.”
“The City of Memphis has invested $1.6 billion in the downtown area over the last five years, including the Rock n’ Soul Museum, adding to city’s positioning as a globally recognized logistics center combined with a variety of appealing tourist attractions,” said Melinda McKay, senior vice president for Jones Lang LaSalle Hotels’ Chicago office, who was also instrumental in the transaction. “Hotels in Memphis benefit from a diversified base of business and leisure travelers.”