Tru/Hotel Lela, Tapestry Collection Wilmington - Dual-Branded Hotel

5001 Market Street, Wilmington, NC, 28405, US

Asset description

JLL’s Hotels & Hospitality Group, as sole and exclusive agent for the owner, has been retained to offer for sale the fee simple interest in the 204-room dual-branded Tru Hotel & Hotel Lela Wilmington, Tapestry Collection Wilmington (the “dual-brand”, “Hotel” or “Property”). Delivered in 2024, the Tru one of the newest Hotels in the market. Additionally, the Hotel Lela was recently renovated and re-branded into the Tapestry Collection by Hilton which completed earlier this year. Located with excellent visibility and frontage along Highway 17, and west of Highway 117, the Hotel is in a convenient location. The Hotel is within proximity to major demand generators around Wilmington such as the Wilmington International Airport (5 miles), UNC Wilmington (1.5 miles), Historic Downtown Wilmington (4 miles), and Wrightsville Beach (6 miles).

Offered unencumbered of management, a new owner/operator has the capability to revamp operational strategies of the Hotel, implement strategic cost control initiatives and employ more aggressive revenue management strategies. With the increase in demand for Wilmington, coupled with an increase in construction costs due to tariffs, a new owner is resented with an opportunity to acquire a recently delivered Hotel at a discount to replacement cost in a bustling costal market.

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Attributes

Units

204

Building area gross

57,641 sf

Year built

1971

Media

Investment highlights

Recently Delivered The Tru Hotel was delivered in 2024, with the Hotel Lela Wilmington, Tapestry Collection finished its renovation earlier this year. As a result, a new Owner should not incur any change-of-ownership PIP.

Unencumbered of Management The Property will be offered unencumbered by a management agreement.

Excellent Location The Hotel is conveniently located in the northwest quadrant of two of Wilmington’s busiest throughfares, Highway 17, and Highway 117. The Hotel is also located within 10 minutes of Wrightsville beach, University of North Carolina at Wilmington’s campus, and Downtown Wilmington Riverwalk.

World Class Brand Affiliation Hilton Worldwide is one of the largest owners, operators and franchisors of hotels with 23 brands, 7,600 properties, and nearly 1.2 million rooms across the world.

Fee Simple Ownership with Non-Union Labor New ownership is provided with the opportunity to acquire a newly constructed Hotel with straightforward and comprehensive control.