Hotel AG Closes One Hotel Every Nine Days for Past Five Months
ATLANTA – April 11, 2011 – Hotel Assets Group, LLC (Hotel AG), announced today that within the past five months the firm has closed one hotel transaction every nine days. The hotels included full service, mid market select service, and foreclosed assets located in the Midwest and Southeast US. The transactions consisted of Hilton, InterContinental, Starwood and Choice brands as well as independent beach front assets. The hotels were sold on behalf of Wells Fargo, US Bank, Midland Loan Services and LNR, among others.
Keith Thompson, principal of Hotel AG stated, "We believe the market today is good but not great yet. Many investors see today as being very similar to how the market was in 2004 with values ramping up through the 2007 year. Needless to say, most investors want to be buyers in today’s market and sellers in three years when values fully rebound.''
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 131 hotels on the market in 33 states valued at $1 billion.published: 04-11-2011