Investment Overview
Lodging Partners, LLC is excited to present for sale the HomeTowne Studios Spartanburg – Asheville Hwy. This property is part of a 3-asset HomeTowne Studios portfolio strategically positioned across key markets in the Carolinas—Raleigh–Durham, Winston-Salem, and Spartanburg. The properties may be acquired individually or as a portfolio, offering investors an opportunity to achieve enhanced scale and regional presence.
HomeTowne Studios Spartanburg – Asheville Hwy is a 126-room extended stay hotel ideally located in South Carolina’s booming Upstate region. Positioned along the I-85 corridor between Charlotte and Atlanta, Spartanburg serves as a hub for industrial expansion, workforce mobility, and infrastructure investment—making it a strong market for extended stay lodging.
This well-located asset offers exceptional accessibility, just minutes from I-26, US-29, and Greenville-Spartanburg International Airport (GSP), which provides nonstop service to more than 20 U.S. cities. The surrounding Greenville-Spartanburg-Anderson metro area is home to over 1.5 million residents and continues to experience rapid growth.
Strategic Location in a High-Growth Corridor
Spartanburg is a vital anchor in one of the Southeast’s fastest-growing industrial markets, driven by a diversified economy and robust labor pool. The area continues to attract large-scale investment across manufacturing, logistics, education, and healthcare—creating stable, year-round demand for long-term lodging.
Key Regional Demand Drivers:
- BMW Manufacturing Co. – BMW’s largest global production plant, with 11,000+ employees and ongoing expansion, is just 20 miles away.
- Industrial Expansion – Over 20 million SF of new industrial/distribution space recently completed or underway.
- Inland Port Greer – A critical logistics hub connecting Spartanburg to the Port of Charleston.
- Healthcare & Education – Home to Spartanburg Regional Healthcare System, USC Upstate, Wofford College, and more.
- Corporate Employers – Amazon, Michelin, Keurig Dr Pepper, Milliken, FedEx, and others provide a steady stream of extended stay guests.
Value-Add Opportunity Following Corporate Transition
This property is part of a larger corporate portfolio divestiture and represents a great value-add opportunity for an experienced owner-operator. Under absentee and centralized ownership, the asset has not been actively managed to respond to local market needs. A hands-on owner can immediately improve performance by adjusting staffing, refining pricing strategies, and making selective upgrades – positioning the property for stronger revenue growth and long-term asset appreciation.
Property Highlights
Flexible Delivery Without Brand Encumbrance
The property may be delivered unbranded and free of franchise obligations at minimal additional cost, or with optional Red Roof affiliation offering a low-cost change-of-ownership PIP and ramped franchise fees, reducing upfront capital outlays. It is also approved for conversion to Suburban Studios and may qualify for key money incentives and franchise fee relief during the first five years, enhancing financial performance during the ramp-up period.
Extended Stay Format with Operational Flexibility
The property includes 126 studio-style guestrooms designed for longer-term guests. Each unit features a fully equipped kitchenette with refrigerator, microwave, stovetop, and sink—ideal for traveling professionals, relocated families, or project-based workforce housing.
Offered Below Replacement Cost
Priced significantly below current construction costs, the asset creates a compelling value proposition for value-focused investors. Red Roof is offering a ramped fee structure and a minimal change-of-ownership Product Improvement Plan (PIP), minimizing upfront brand-related capital requirements. Upon completion of the PIP, the property is well-positioned to realize significant revenue growth.
Guest Features & Amenities
- Studio-style layouts with kitchenettes (refrigerator, microwave, stove top, sink, and dining table & chairs)
- Free high-speed Wi-Fi, HD flat-screen TVs
- On-site guest laundry, and vending machines
- Room Mix: 7 Accessible Queen Studios, 97 Queen Studios, and 22 Double-Twin Studios
Surrounding Amenities
Located near a variety of dining and retail options, guests have access to more than eight walkable restaurants and several grocery stores nearby, including ALDI, Lidl, and La Unica Supercenter.
Location
Market Outlook – Spartanburg, SC
Spartanburg is a rising economic engine in South Carolina’s Upstate. It continues to draw major corporate investment and talent due to its strategic location, infrastructure, and pro-business climate.
Market Strengths:
- Access to 75% of the U.S. population within a day’s drive
- A growing population of over 345,000 in Spartanburg County
- Air service via GSP International (2.6M+ passengers annually)
- 500+ international firms in the region
- Strong GDP contribution from manufacturing and logistics
Extended stay lodging in Spartanburg benefits from a mix of business travel, workforce mobility, healthcare stays, and educational visits. The market remains underserved in the economy extended stay segment—providing a durable competitive advantage for properties like HomeTowne Studios.
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ADVISORS
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