Hodges Ward Elliott (“HWE”) is pleased to present the opportunity to acquire the fee-simple interest in the 126-key Courtyard Winston-Salem Downtown. The 2020-built Property is located in the city’s downtown core and main employment corridor, walkable to a wide array of retail and amenities. Also positioned less than 10 minutes from Wake Forest University and less than five minutes from the groundbreaking Innovation Quarter, the region’s leading technology hub, the Courtyard is surrounded by market-leading demand generators.
Custom designed to complement the surrounding community, the Courtyard features the city’s only hotel rooftop bar and represents the newest Marriott product to deliver in the market. The Hotel is offered fee simple and unencumbered of management, providing new ownership a rare opportunity to own a premium-branded, centrally located property in a fast-growing downtown market.
| ADDRESS: | Winston-Salem, NC 27101 |
| YEAR OPENED: | 2020 |
| KEYS: | 126 |
| STORIES: | 6 |
| SITE AREA: | +/- 0.52 Acres |
| MEETING SPACE: | 2,900 SF |
| F&B Outlets: |
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| Other Amenities: |
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| Interest Conveyed: | Fee Simple |
| Management: | Unencumbered |
| Labor: | Non-Union |
Investment Highlights
Located in the Heart of Downtown
Downtown Winston-Salem has transformed into a vibrant urban hub, blending historic charm with modern development. Once a quiet business district, it is now a walkable destination filled with award-winning restaurants, breweries, boutique shops, art galleries, and live music venues. Major investments have revitalized key corridors like Fourth Street and Trade Street, while the nearby Innovation Quarter has brought in thousands of workers, students, and visitors. The area is anchored by attractions like the Benton Convention Center, BB&T Ballpark, and the new Kaleideum museum, drawing consistent foot traffic throughout the year. With a surge in residential development and infrastructure upgrades, including new greenways and mixed-use projects, downtown Winston-Salem is positioned as the cultural and economic heartbeat of the city, fueling strong demand for hospitality and lifestyle-driven developments.
Robust, Growing Business Environment
Winston-Salem boasts strong demographics and a thriving labor market. With a population growth of 6.98% from 2013 to 2023, surpassing the national average, it ranks among the top cities in North Carolina. It was recently ranked as the #1 Best City for Business Costs and the #13 Best City to Start a Business. As of April 2025, the unemployment rate in Winston-Salem stood at 3.4%, compared to the national average of 4.2%. Since 2020, the MSA has attracted around $803 million in capital investment and possesses an additional $6.3 billion in potential investment with 11,000 prospective jobs in the pipeline.
Healthy Hospitality Market with Diversified Demand
The hospitality sector in Winston-Salem and Forsyth County has thrived, with visitor spending reaching a record breaking $1.05 billion in 2023 (up 6.9% from the year before). The year-round university demand, multiple sports teams and stadiums, a newly renovated convention center, medical campuses, cultural and tourism destinations, and a plethora of events, combined with the growing business travel, give Winston-Salem some of the most diversified demand drivers possible. The city’s tourism renaissance is also evident at the state level, as North Carolina climbed to the 5th busiest state in domestic visitation in 2024, welcoming nearly 40 million visitors.
Bailey Park
Innovation Quarter
Marriott Brand Adds Significant Value
The Property benefits from its affiliation with Marriott, the world’s most recognizable and top-performing hospitality brand. Marriott provides centralized marketing, booking, and rewards systems, providing the Hotel with access to over 237 million Marriott Bonvoy members. Courtyard by Marriott is a top-tier brand and arguably one of the most valuable franchise brands in the limited-service space in the U.S. The brand currently has approximately 1,100 properties nationwide, along with 20 properties totaling 2,521 rooms in the US pipeline, demonstrating a high level of growth.
Optimal Offering - Fee Simple, Non-Union, Unencumbered by Management
The Property is offered fee simple and free and clear of existing management and financing, affording new ownership maximum optionality in the future operation and capitalization of the Hotel.
