DENVER Colorado; KANSAS CITY, Missouri; and ATLANTA, Georgia—HREC Investment Advisors announced it has arranged the sale of the 149-room Sonesta Select – Kansas City Airport Tiffany Springs located in Kansas City, Missouri. The property was acquired by KMG Hotels. KMG owns and operates 11 hotels, representing various franchises like Marriott, Hilton, Starwood, IHG Hotels & Resorts, and Choice Hotels International, with over 1,600 rooms. Several other properties are under development, with more projects in the pipeline.
HREC Investment Advisors exclusively represented an affiliate of Service Properties Trust (SVC) as the seller in this transaction. The marketing and negotiations were led by Scott Stephens, senior principal and COO – Tampa; Herb Warmbrodt, principal and broker on record for Missouri; and Monty Levy, managing director – Atlanta. SVC is a real estate investment trust with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of December 31, 2024, SVC owned 206 hotels with over 35,000 guestrooms throughout the United States and in Puerto Rico and Canada. As of December 31, 2024, SVC also owned 742 service-focused retail net lease properties with over 13.2 million square feet throughout the United States.
“Yet again, we were delighted to successfully advise one of our firm’s key clients on the disposition of this asset, utilizing our industry-leading national platform to source the buyer,” noted Levy.
Warmbrodt added, “We believe we achieved very strong pricing for our client, while at the same time providing the buyer with future upside following a PIP renovation.”
The hotel is located off Interstate 29, providing access to Kansas City International Airport, which is approximately five miles away from the hotel, as well as downtown Kansas City. Originally constructed in 1990, the property underwent conversion to a Sonesta Select in 2021. The hotel is surrounded by various businesses in Kansas City’s northern suburbs, including the National Weather Service Training Center, Aviation Technical Services, fulfillment centers for CVS Health and Cencora, a data center for Mastercard, and two major automotive assembly plants. Furthermore, Fort Leavenworth, the third-oldest active military installation in the United States, is located across the river in Kansas. For leisure travelers, the hotel is a short drive from the Kansas City Expo Center, five premier casinos, two youth sports complexes, the T-Mobile Center, and the National World War I Museum and Memorial.
