Norland James and Dr. Amina Gilyard James are taking the words “power couple” to the next level!
According to Black Enterprise, the pair have become owners of a newly acquired Quality Inn in Memphis, TN.
The 70-room property was purchased by the couple for $3.85 million, and it’s reportedly thanks to a cohort of first-time Black hotel investors.
Not New To This, True To This
However, Black Enterprise makes it clear that this is not the couple’s first rodeo at hotel ownership.
The outlet reports that between the period 2019 and 2021, the two became limited partners and passive investors in two Hilton-branded hotels.
“We learned a lot as limited partners, and we just knew that we wanted to buy our very own hotel in 2022,” Amina explained, according to the outlet. “Ultimately, our goal is to acquire more midscale hotel properties in secondary markets in the Southern and Midwest regions of the country.”
When the time arrived to scout a location for their hotel ownership dreams, the couple was intentional about finding a place where they were sure they could get the most bang for their buck.
Like many industries, the hotel industry was heavily impacted when Covid-19 first struck in 2020.
However, Memphis was one of the few cities that managed to bounce back in this space after taking a hit from the pandemic. As a result, the husband and wife were led to hone in on the city as the place for them to embark on their new hotel ownership journey.
With the corporate expansion and an influx of jobs in the area, the Raleigh neighborhood, which is roughly 11 miles outside of Memphis, became the ideal place for them to take advantage of the Quality Inn that was up for grabs.
“We know this will be a success,” said Norland, the outlet reports. “We already have plans and consultants in place to increase customer satisfaction, implement sales and marketing strategies, and enhance property condition.”