Econo Lodge, Raleigh, NC Purchased

. October 14, 2008

RALEIGH, NC, December 20, 2006. he Econo Lodge of Raleigh was recently acquired by Tridev Hospitality, LLC through a deal structured by George Mumford, founding partner, and Ed James, Principal of The Mumford Company's office located in Newport News, VA. The purchaser is an operating partnership of experienced hotel owners with several hospitality interests in the Southeastern US. After mainly cosmetic renovations, the property will continue to operate under the Econo Lodge franchise. The Mumford Company was pleased to orchestrate the sale representing the seller Shriji Krupa, LLC, a regional hotel developer and operator.

Tourism in North Carolina accounts for 185,200 jobs and $14 billion in revenues and has grown into one of the state's largest industries. With 64 million people visiting annually, tourism has had a 7.3% increase over previous years. When divided into economic sectors, the lodging industry is the second largest revenue generator for the state with $2.4 billion in income.

As demonstrated by the near record volume of transactions during 2006 and the extensive inventory of Listings going into 2007, The Mumford Company is the preferred choice for sellers of hotel properties representing most major franchises and independents alike. The Mumford Company is recognized in the industry as a premier hotel brokerage firm and is strategically located to serve clients nationally, with offices in Atlanta, Chicago, Dallas and their corporate office in Newport News, Virginia.

Established in 1978 The Mumford Company is proud of its heritage as a leader in the hotel real estate industry. For more information on The Mumford Company and its' services, please visit our website at www.mumfordcompany.com or contact Jackie L. Wilder at 757-873-0962 ext 310.

Business Contact:

Subscribe to our newsletter
for more Hotel Newswire articles

Related News

Choose a Social Network!

The social network you are looking for is not available.

Close
Coming up in March 1970...