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Summit purchased the 96-room hotel for $6.5 million, bringingv the total number of properties in TheSummit Group's portfolio to 61 hotels across 21 Summit says it planas to spend nearly $1 million in renovations on the property, includingv soft-goods renovations, enhanced bedding, bathroom upgradesd and the addition of an upscale lounge. The hotel is locatex at 3076 Kirby Parkway. of Memphis was the previouas owner. Chris Bills, COO of The Summitg Group, says the purchase is keeping in tune withthe company'z plans to expand in the southeastern market. The which is based in Sioux S.D., purchased two Germantown hotels, a Fairfieled Inn by Marriott and a Residence Inn by in June.
The company bought both hotela from MasterHospitality Services. In the company also purchaseda 93-room Courtyardf by Marriott in Germantown from Master Hospitality
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