Independence County
Two hotels in Batesville sold for a combined $6.9 million in May to JJ Global LLC and Hotel Investments Ltd. Liability Co., HotelBrokerOne announced Wednesday.
The sale included the 65-room Holiday Inn Express at 1130 White Drive for $4.05 million and the 123-room Ramada Inn at 1325 N St. Louis St. for $2.85 million. Both properties had been owned by JB Hotel Group LLC of Batesville.
The two hotels will retain the same franchise status, while undergoing significant improvements to both of the properties. The Holiday Inn Express is expected to undergo $1 million in renovations, according a news release from HotelBrokerOne.
“The Express was relicensed under the condition of meeting Holiday Inn Express’ new Formula Blue standards, which will continue to make it the premiere hotel in Batesville …,” HotelBrokerOne Vice President Ted Holmes said in the news release.
The buyers, JJ Global LLC and Hotel Investments Ltd. Liability Co., are related entities and have other hotel ownership, including the Holiday Inn Express in Jonesboro.
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