Norland and Amina James, the owners of the newest Black-owned Quality Inn hotel in Memphis, Tennessee, have acquired a 70-room property in the Raleigh neighborhood of North Carolina for $3.85 million.
This is the couple’s third hotel investment, having already invested in two Hilton-branded hotels between 2019 and 2021 as limited partner investors.
In 2019, the James family founded Duke Ventures with the goal of acquiring a portfolio of limited-service mid-scale hotel properties in secondary markets in the Southern and Midwest regions of the United States. Currently, Duke Ventures has two hotels in its portfolio: a Home2 Suites in Oklahoma and a Hampton Inn in Georgia.
Amina James, who holds a doctorate in human and organizational learning from George Washington University and has nearly 10 years of real estate investment and operations experience, said: “We learned a lot as limited partners, and we just knew that we wanted to buy our very own hotel in 2022. Ultimately, our goal is to acquire more mid-scale hotel properties in secondary markets in the Southern and Midwest regions of the country.”
The couple was drawn to Memphis due to the city’s strong pandemic recovery in the hotel market and the recent growth in corporate expansion and travel to the area.
Norland James, who holds an MBA from the University of Phoenix and has a background in real estate investing, added: “We already have plans and consultants in place to increase customer satisfaction, implement sales and marketing strategies, and enhance property condition. We know this will be a success.”
Both Norland and Amina bring a wealth of experience and expertise to their new venture. Norland is a veteran and former civil servant with a background in program analysis and logistics who retired from the Army in 2019 after a successful 20-year career. Amina, in addition to her education and experience in real estate, is a serial entrepreneur specializing in organization development and effectiveness and a seasoned consultant, speaker, and investor.
The James’ acquisition of the Quality Inn hotel in Memphis is just the latest step in their journey as hotel investors and entrepreneurs. With their diverse backgrounds and proven track record of success, the couple is well-equipped to make a lasting impact in the industry.
