Hotel AG Sells 5th Red Roof Inn
ATLANTA – December 12, 2011
- Hotel AG announced today the firm negotiated the sale of the 107-room Red Roof Inn in Round Rock, Texas on behalf of RRI NC I LLC. This transaction represents the 5th Red Roof Inn hotel that Hotel AG has sold within the past five months. The other four transactions included the 122-room Red Roof Inn Brentwood, Tennessee; the 112-room Red Roof Inn Greensboro, North Carolina; the 120-room Red Roof Inn Tampa/Brandon, Florida; and the 131-room Red Roof Inn Chandler/Phoenix, Arizona.
"The buyers on each of these transactions were local operators,'' stated Wendy Blissett, vice president and partner of the firm. "All five of the hotels will operate under the Red Roof Inn franchise.''
"Our firm is very pleased to have represented a long-term institutional client in these five transactions,'' commented Keith Thompson, principal of the firm.''
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. Today, Hotel AG has 162 hotels on the market in 35 states valued at 1.4 billion. The company conducts business with REITs, public and private companies, institutional clients and individual owner operators. published: 12-12-2011