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A Buffalo-based hospitality firm sells Tennessee hotel

Hamister Group has sold a Tennessee hotel after spending more than $1 million on its renovation.

The Buffalo-based health care and hospitality firm, which owns and operates the Hilton Garden Inn in downtown Buffalo, said it sold a 62-room Fairfield Inn in Smyrna, Tenn., southeast of Nashville. Hamister acquired the hotel in 2004.

"This disposition underscores our strategy of securing underperforming assets, infusing them with much-needed capital and our customer-centric hospitality model, stabilizing them, and delivering a satisfactory ROI for our shareholders," Chief Investment Officer Daniel M. Hamister said in a statement.

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