Hospitality Group

Hotel AG Brokers Sale of 110-Room Ormond Beach, Florida Hotel

ATLANTA – February 7, 2011– Hotel Assets Group, LLC (Hotel AG), announced today they closed the 110-room Makai Hotel in Ormond Beach, Florida on behalf of Wells Fargo. The property sold to Lonaga Florida, LLC for an undisclosed amount. "This was a smooth transaction in that the buyer waived due diligence and didn’t need to finance resulting in a quick close, stated Wendy Blissett, vice president and partner of the firm. "This is the fourth transaction we have successfully completed for Wells Fargo.'' The Makai Hotel is an independent hotel situated directly on the beach in Ormond Beach, Florida.

About Hotel AG

Headquartered in Atlanta, Georgia with 16 national offices, Hotel AG is a specialized brokerage firm offering hotel-specific real estate and investment banking within the United States. The company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Today Hotel AG has 134 hotels on the market in 33 states valued at 1.1 billion. published: 02-07-2011

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