Henrico-based hotel firm buys Candlewood Suites near RIC
A Henrico Countybased hotel operator has bought Candlewood Suites Richmond Airport.
JP Hospitality, through its JP Airport LLC entity, paid $8.25 million for the 103-room hotel, according to county property records.
The four-story hotel at 5400 Audubon Drive is off Interstate 64 and Airport Drive. The property was assessed in 2019 for $6.8 million, county records show.
The hotel, opened in 2009, will continue to operate as a Candlewood Suites.
The new owner plans to complete scheduled cosmetic updates typical for franchised hotels, according to Denton Realty Co., a Virginia Beach-based commercial real estate brokerage and consulting firm that represented the seller, Audubon Hospitality LLC, an affiliate of Virginia Beach-based Landmark Hotel Group.
JP Hospitality operates 17 hotel properties and has one under construction. It has 11 hotels in the Richmond region, including the Candlewood Suites Hotel Richmond Glen Allen in northern Henrico; two Country Inn & Suites; the Best Western Executive Hotel on West Broad Street; and the Quality Inn West End hotel on West Broad Street.
The Candlewood Suites Richmond Airport sold recently for $8.25 million.