Hotel AG Closes 5 Hotel Transactions Last Week
ATLANTA – May 21, 2012 – Hotel AG announced today the firm closed 5 hotel transactions last week. The transactions consisted of 4 Hilton and Marriott branded hotels and 1 bank-owned independent hotel. The properties sold included a full-service Doubletree, a Fairfield Inn, a Hampton Inn and an independent asset located in the Midwest, and a Hilton Garden Inn located in the Southeast.
The Hilton and Marriott assets were the first hotels in 2 portfolios being sold to public hotel investment funds. The 2 portfolios consist of a 9-property group located in the upper Midwest and a 6-property group located in the Southeast. The two portfolio sellers are both private hotel companies.
Hotel AG brokers involved in the transactions included Andy Broad, Brad Sinclair, Wendy Blissett and Michael Bernath.
The firm is scheduled to close 13 additional hotels between now and the NYU conference with the majority of the properties being Hilton or Marriott branded assets.
H. Keith Thompson, principal of Hotel AG stated, "These recent closings continue to represent a vibrant hotel transaction market in the public sector as well as hotel acquisitions being accretive to investors.''
Today, Hotel AG has 203 hotels on the market valued at $1.8 billion with 68 hotels under sale agreement. The firm has closed 1 hotel transaction every 9 days for the past 19 months.
About Hotel AG
Hotel AG is a specialized brokerage firm offering hotel specific real estate within the United States. Headquartered in Atlanta, Georgia, the company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Hotel AG can be found online at www.hotelassetsgroup.com