Hotel AG Announces Call for Offers for September
Hotel Assets Group is announcing four upcoming calls for offers in September.
The first call for offer will be on September 12, 2013, for the Holiday Inn Express & Suites - Plano, Texas. The Property is a 137 room, 6-story interior corridor. The Property has substantial restaurant and meeting space. The Hotel was converted to Holiday Inn Express & Suites from a full service Holiday Inn. Property will be leaving IHG system within 1 year. PIP issued for conversion to Choice Hotels as either a Quality Inn or a Clarion Hotel with Bistro. The Property has also had PIP issued for conversion to a Red Lion Inn & Suites or a full service Red Lion Hotel. The Property is priced at 5,500,000 or 40,146 per key. Contact Chris Stark at [email protected] for more information.
The remaining three call for offers will be on September 27, 2013.
The Former Quality Inn - Pensacoloa, Florida is located just off Interstate 10 on the north side of Pensacola. Hotel performance is up in 2013. Room revenues should hit 1.1M by YE. Quality Inn flag is available as are others. Great opportunity for hands-on owner/operator. Price reduced to 1,950,000. Contact Tom Huegel at [email protected] for more information.
The Holiday Inn - Port Washinton, Wisconsin is a 96 room, full service, interior corridor hotel with upside potential. The Property is located on 1.29 acres located on Lake Michigan within the Milwaukee MSA. Asking price is 6,900,000. Current bank loan of 5,700,000 at 5% possibly assumable for qualified party. All offers will be considered. Contact Andrew Broad at [email protected] for more information.
The Hampton Inn - Greensboro, North Carolina (Airport) is a 125 room hotel recently renovated including Perfect Mix Lobby. The hotel is currently producing 1,370,000 of NOI and is pacing towards 1,450,000 by year end. Contact Andrew Broad at [email protected] for additional details.published: 09-05-2013