by AMP Staff June 16, 2023
The Hotel Hot Springs, located at 305 Malvern Ave., has been sold for an undisclosed amount. The property was co-listed by Gary Smith and Hank Kelley of Kelley Commercial Partners and Chris Mahoney of Keen-Summit Capital Partners LLC of New York who handled the transaction.
Arkansas Money & Politics previously reported in March that the hotel was officially under contract.
“We are thrilled to announce the sale of the Hotel Hot Springs,” said Gary Smith. “This property has a long-standing reputation as one of the premier hotels in the region, and we are confident that the new owners will continue to build upon its success.”
The 14-story hotel features 200 rooms and 7,000 square feet of meeting and event space. It was built in 1986 on 1.44 acres and underwent an $8 million renovation in 2016. The hotel offers a range of amenities, including The Inside Track Grill & Sports Lounge, a business center, fitness center, pool and two-story parking deck. The hotel is also connected to the Hot Springs Convention Center/Bank OZK Arena and within walking distance of Hot Springs National Park and hiking trails. The sale of Hotel Hot Springs represents a significant investment in the Hot Springs area and is expected to have a positive impact on the local economy.