Hotel AG Reports 5 Hotel Closings Since June 1st
ATLANTA – June 20, 2011 – Hotel Assets Group, LLC (Hotel AG), announced today that the firm has closed 5 hotel transactions since June 1st and within the last 7 months has closed 1 hotel transaction every 9 days. Additionally, the firm has over 40 hotels under contract with closings scheduled within the next 70 days. The sold assets were located in the Midwest, South Central, Southeast, Mid Atlantic and North Central regions. The transactions consisted of Hilton, Marriott, IHG, Choice and Wyndham brands as well as independent assets. The hotels were sold on behalf of individual ownership groups, Banks, CMBS service lenders and financial institutions, among others.
Hotels represented in the transactions included Hampton Inn, Hampton Inn & Suites, Homewood Suites, Hilton Garden Inn, Holiday Inn Express, Wingate Inn, Four Points, Comfort Inn, Suburban Lodge and independent hotels.
Keith Thompson, principal of Hotel AG stated, "We are beginning to see solid traction in the hotel transaction arena and these recent closings further represent the return of capital and operating fundamentals to the hospitality industry.''
About Hotel AG
Headquartered in Atlanta, Georgia with 19 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 129 hotels on the market in 33 states valued at $1.3 billion. published: 07-20-2011