Naranda Hospitality Acquires West Warwick Hotel For $6.15M

Located at 10 Keyes Way in West Warwick, RI, the recently sold asset is a hotel. The transaction took place on 10/08/2021, and the property was purchased by Naranda Hospitality from Hospitality Investments, LLC and High Road Hospitality. The sale was facilitated by Jim O’Connell and Ketan Patel of HREC Investment Advisors. The hotel consists of 88 keys and was sold for a price of $6,150,000, resulting in a price per key of $69,886.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $6,150,000
• Address: 10 Keyes Way, West Warwick, RI
• Date: 10/08/2021
• Buyer: Naranda Hospitality
• Seller: Hospitality Investments, LLC & High Road Hospitality
• Broker: Jim O’Connell & Ketan Patel - HREC Investment Advisors
• Keys: 88
• Price Per Key: $69,886

Jim O’Connell and Ketan Patel of HREC Investment Advisors played vital roles as brokers in the transaction, representing the buyer and seller respectively. Their expertise and guidance contributed to the successful completion of the deal.