HWE, as exclusive representative for the Owner, is pleased to offer for sale Olde Harbour Inn, situated on Factors Walk in Savannah’s Historic District. The Hotel features 24 apartment-style suites, each with a kitchen. The Property also fronts River Street in a building that originally dates back to 1892. Olde Harbour Inn is being offered fee-simple and unencumbered of brand and management.
| Address: | |
| Rooms | 24 |
| Average Room Size | 760 SF with 8 to 22 ft ceilings |
| Year Built | 1892 |
| Year Converted To Hotel | 1987 |
| F&B | Evening Reception |
| Parking | 28 spaces on site (Factors Walk) |
| Tenants |
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| Trip Advisor Ranking | 6 of 130 |
Investment Highlights
Ideal Location on Savannah’s Riverfront
Olde Harbour Inn is unique to the Historic District as it offers only large apartment-style suites with kitchens, ideal for families or groups. Its location on Factors Walk creates a one-of-a-kind setting with the 19th century buildings nestled between River Street and parklike tranquility of Rossiter Place. The recent announcement of $60 million in improvements to River Street, combined with the wildly successful Plant Riverside district to the west and Eastern Wharf are leading to a complete redevelopment of Savannah’s most famous street.
Valuable River Street Retail
The Property includes three, fully-leased, retail spaces that generate significant net income for the Property. These are ‘mom and pop’ retailers on short-term leases. Given the proximity and success of Eastern Wharf, the newly opened AC Hotel (just to the east) and the recently announced $60 million of improvements to River Street, there should be meaningful upside in rents, once the current leases expire.
Infrastructure Growth
The city continues to invest in vital infrastructure designed to make Savannah more accessible and desirable. In 2025, the convention center completed a $276 million expansion, doubling its size including the addition of a 40,000 SF ballroom. Additionally, the airport is expanding, adding 4 new gates, renovating the terminal (new dining and retail), relocating and expanding the air cargo complex, expanding the parking and improving the security checkpoints. The expansion is expected to fuel economic growth in the region, supporting job creation and strengthening the airport’s role as a major logistics hub.
Port of Savannah is the fastest growing shipping gateway on the U.S. East and Gulf coasts, increasing traffic to 5.6 million twenty-foot equivalent container units (TEUs) in 2024, a 12.5% YoY increase over 2023. Plans are underway to support this growth by adding berth space, boosting container yard and rail capacity, and growing the number of truck gates at the port. The total project budget is $4 billion. The expansion and renovation of existing infrastructure will start to come online next year and allow the Port of Savannah to reach a projected 12.5 million-TEU by 2035.
Fully Unencumbered Asset
Olde Harbour Inn is being offered fee simple and unencumbered of management and brand allowing for a variety of business plans. Potential options may include condominium or condo hotel (the building was converted to condos originally in the 1980’s and then the condo regime was subsequently collapsed), a “light-touch” VRBO or Air BNB type of operation, boutique or soft branding or longer-term rentals.
Savannah - Hottest Hotel Market in the Sunbelt
Due to a number of recent factors, what was once a sleepy hospitality market has exploded. For the TTM June, the Historic District’s RevPAR is 22.5% greater than TTM June 2019. Factors driving this growth include:
An increasing ADR ceiling driven by the opening of premium properties like Perry Lane, JW Marriott, Alida, Thompson, and Hotel Bardo.
Air passenger traffic to/from Savannah has doubled in the past 10 years. Passenger traffic was up 36.8% for 2024 Year End as compared to 2019, with June 2025 YTD already surpassing June 2024.
The City’s location off I-95 makes it easily accessible by car. Savannah is within a 6-hour drive of ~37 million people. More than 17.3 million people visit Savannah each year.
Recent legislation has limited new hotel development in the majority of the Historic District to just 74 keys. For this reason, hotel development in the Historic District is difficult and expensive. As a result, new hotels that are constructed command extremely high ADR, providing lift for the market.
Top RevPAR Growth Submarket in the Sunbelt
With 4.7% CAGR since 1987, Savannah Historic District submarket consistently held strong performance, surpassed only by Nashville.
| SUBMARKET | T-12 JUL 2025 REVPAR |
T-12 JUL 2019 REVPAR |
% CHG. VS. 2019 |
CAGR 1987-2024 |
|---|---|---|---|---|
| Tampa - FL (USA) - Tampa CBD/Airport | $147.30 | $107.97 | 36.4% | 4.1% |
| Charleston - SC (USA) - Charleston/West Ashley | $189.13 | $141.05 | 34.1% | 4.6% |
| Salt Lake City/Ogden - UT (USA) - Salt Lake CBD/Airport | $114.36 | $90.30 | 26.6% | 3.8% |
| Savannah - GA (USA) - Savannah Historic District | $164.86 | $134.62 | 22.5% | 4.7% |
| Raleigh/Durham/Chapel Hill - NC (USA) - Cary/South Raleigh | $101.95 | $85.53 | 19.2% | 3.3% |
| Orlando - FL (USA) - Lake Buena Vista | $258.44 | $221.36 | 16.8% | 4.0% |
| Miami - FL (USA) - Miami Beach | $207.52 | $179.31 | 15.7% | 3.5% |
| Charlotte - NC (USA) - Charlotte CBD (1) | $147.03 | $128.06 | 14.8% | 3.4% |
| Dallas - TX (USA) - Dallas CBD/Market Center | $120.96 | $105.38 | 14.8% | 4.2% |
| Houston - TX (USA) - Houston CBD | $135.15 | $119.09 | 13.5% | 3.6% |
| Nashville - TN (USA) - Nashville CBD/Downtown | $211.44 | $204.84 | 3.2% | 5.3% |
| San Antonio - TX (USA) - San Antonio CBD | $111.09 | $108.99 | 1.9% | 2.8% |
| New Orleans - LA (USA) - New Orleans CBD/French Quarter | $132.51 | $130.89 | 1.2% | 4.3% |
| Denver - CO (USA) - Denver CBD | $140.81 | $140.55 | 0.2% | 2.8% |
| Atlanta - GA (USA) - Atlanta CBD | $123.94 | $128.87 | -3.8% | 2.9% |
| North Carolina West (USA) - Asheville | $103.57 | $112.39 | -7.8% | 4.0% |
| Austin - TX (USA) - Austin CBD | $160.82 | $174.87 | -8.0% | 4.7% |
(1) CAGR Based on 1989 (Earliest Data Available)
Ideal Drive-To Destination
Savannah is primarily a drive-to destination thanks to the area’s connected highway systems (including Interstate 16 and 95) with primary feeder markets including Atlanta, Florida, and North Carolina. Savannah is within 100 miles (2-hour drive) of 2 million people and within 300 miles (6-hour drive) of over 36.8 million people. Due to its highly accessible location, Savannah attracts over 17.3 million visitors annually. Savannah is primarily a leisure-driven lodging market, with over 70% of guests attributable to the transient segment and 89% leisure travel.
Savannah Waterfront Community Improvement District (SWCID)
Beginning in the 1970s, the Riverfront Urban Renewal Project turned a number of neglected industrial buildings into a bustling tourist hub for the city of Savannah. Following on the recent success of Richard Kessler’s $375 million Plant Riverside redevelopment, the city now plans to invest $60 million over the next five years to further improve the waterfront.
The SWCID began a new study in early 2024 leading to a plan that will serve as a blueprint for River Street’s evolution over the next decade. Through a combination of a hotel/motel tax, contributions from commercial property owners in the district and federal grants, $60 million has been raised for projects that include:
In all, 48 projects have been identified, the first of which should be visible in the coming months.