Hen­rico-based ho­tel firm buys Can­dle­wood Suites near RIC

Richmond Times-Dispatch - - ON THE MOVE - BY GRE­GORY J. GIL­LI­GAN IHG

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.

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