The Foundry Hotel Asheville

51 South Market Street, Asheville, NC, 28801, US

Description

JLL’s Hotels & Hospitality Group is pleased to offer for sale the fee simple interest in the 87-room Foundry Hotel Asheville, a Curio Collection by Hilton (“Hotel” or “Property”) located in downtown Asheville, North Carolina. This offering represents an exceptional opportunity to acquire a relatively new institutional quality boutique hotel in excellent condition. The Hotel, which was an adaptive reuse of a former steel foundry, provides ample upside for new ownership to acquire the most unique asset in Asheville and one of the finest hotel assets in the state of North Carolina.

The Foundry Hotel anchors the revitalized historical business district known as “The Block” which has undergone extensive revitalization while remaining true to its historic roots. Situated just a five-minute walk from Asheville’s dynamic downtown scene, the Foundry Hotel was converted from a former steel factory in 2018. Set in an enclave-like campus, the Hotel offers guest an authentically local upscale boutique retreat in a modern industrial setting. The juxtaposition of contemporary touches and luxurious comfort within the century-old complex provides visual interest while preserving the building’s past grandeur. The Hotel’s casual design features exposed brick walls, a vibrant outdoor courtyard, versatile event spaces, a cozy chic lounge, and The Refinery Restaurant, which is currently only open for breakfast and weekend brunch. New ownership will realize tremendous upside through either reconceptualizing the restaurant and providing additional meal service or through leasing it to a third-party operator.

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Attributes

Units

Year built

2018

Building area net

14,720 sf

Land area gross

1.01 acres

Media

Investment highlights

Outstanding Location Proximate to Popular Destinations

Just a five-minute walk from downtown Asheville, the Hotel offers guests a peaceful retreat near the city’s vibrant center. Its prime location provides easy access to Asheville’s acclaimed restaurants, breweries, live music venues, and thriving arts scene.

Robust Local Economy

Asheville serves as western North Carolina’s economic hub, driven by a booming tourism industry that attracts over 13.9 million visitors and generates nearly $3 billion annually. The Hotel is exceptionally positioned to capture this strong demand from leisure, wedding, and group travelers.

Exceptional Condition with Extensive Upside Potential

Opened in 2018, the Hotel remains in excellent condition and has consistently performed well within its competitive set. With proven ability to maintain high occupancy despite new market entrants, new ownership can leverage strategic management to further enhance rate growth and maximize RevPAR.

First Class Brand Affiliation

As part of the Curio Collection by Hilton, the Hotel combines distinctive, independent character with the advantages of a world-class global brand. This affiliation provides access to Hilton’s robust marketing reach and 200 million–member loyalty network while preserving the property’s unique identity and operational flexibility.