A decade after building the the Fairfield Inn and Suites in East Ridge, 3H Group CEO Hiren Desai said today the original investors in the 79-room hotel have sold the property to a New York investment group.
But 3H Hotels will continue to manage the hotel at 1453 Mack Smith Road.
The new owners, organized as Adar Eastridge LLC, bought the East Ridge property on May 1 for $6.5 million, according to property filings with the Hamilton County Register of Deeds. The 50,508-square-foot Fairfield Inn includes a swimming pool, 24-hour business center and snack bar.
The hotel was built in 2007, but was recently renovated. No immediate plans for changes at the hotel are planned as a result of its sale, Desai said.
The new owners have agreed to keep 3H Group as the hotel manager. Desai said the investors have bought a couple of 3H hotels, but the Chattanooga-based hotel operator continues to own most of its hotel properties.
Desai founded 3H in 2000 and has grown the company to more than 20 hotels in six states.