Admiral Hotel (Mobile, Alabama) – Asset Sale

  • Owner was US family office from the Southeast with large real estate portfolio
  • Property is a 156 key hotel on one acre site located in downtown Mobile
  • Originally opened in 1940 and was one of two best hotel assets in the market
  • One of 32 founding hotels in 1989 National Trust Historic Preservation program Historic Hotels of America
  •  Hotel acquired in 2014 with major renovation work done along with tax credit transaction in 2015
  • Outside management group and hotel franchise deal signed in 2020 at the start of Covid disruption
  • Owner was willing to sell property and wanted to be discreet with sale process in 2022
  • RCP brought in Charleston based family office investor with several upscale hotels in Southeast
  • RCP helped facilitate discreet transaction which included asset sale and termination of existing management agreement