Secaucus Meadowlands Hotel
|Fairfield, Connecticut - January 3, 2005 – Optimum Hotel Brokerage
announced today that the firm has closed on the sale of the 304-room Crowne
Plaza® Secaucus Meadowlands Hotel in Secaucus, New Jersey.
Joe McCann, president of Optimum Hotel Brokerage represented the buyer
in the transaction.
“The Crowne Plaza® Secaucus Meadowlands Hotel is a unique and well-positioned Metro New York hotel. The hotel is strategically located in a high barrier to entry market, and only minutes from Manhattan” McCann said. Located in the heart of the Meadowlands, the 14-story hotel offers guests an outdoor pool, concierge services, a business center, restaurant and sports bar, and executive floors and business-class rooms. The hotel also has over 30,000 square feet of dedicated ballroom and exhibit space.
“We identified this underperforming asset as the perfect opportunity for attracting additional niche lodging markets. With its central location within the New York metro market and its over 30,000 square feet of diverse ballroom space and expansive kitchen facilities, we felt this property would be an ideal facility for Kosher catering and weekend Kosher group business, as these lucrative segments are currently being underserved in the market.” After identifying a buyer who understood and appreciated the demands and economics of this profitable market segment, McCann and Optimum Hotel Brokerage worked with the buyer, a privately-held Canadian-based real estate ownership company, to negotiate a deal with FelCor Lodging Trust. “Our ability to match the perfectly motivated buyer to the right asset was the key to a successful transaction for both buyer and seller”, McCann explained.
Fairfield, Connecticut-based Optimum Hotel Brokerage is a full service hotel brokerage and hotel capital advisory service firm. The firm primarily brokers hotel sales in the Northeast and New England regions. In addition to the sale of the Crowne Plaza Secaucus, the firm’s sales within the past year include the 350-room Crowne Plaza Hotel in Hartford, Connecticut; the 84-unit Hampton Inn Sturbridge in Sturbridge, Massachusetts; 153-Best Western Airport in Albany, New York; and the 170-unit Radisson in Rochester, New York.
Optimum Hotel Brokerage is also a member of Hotel Brokers International, the world’s largest and oldest hospitality real estate organization, which has a rich heritage of experience and expertise in hotel real estate valuation, transactions and other essential services. Comprised of some 75 hotel real estate broker specialists, HBI provides the hospitality industry with the most powerful hotel real estate marketing force, creating greater visibility through a unified and inclusive advertising and marketing approach. Mr. McCann has earned the designation of Certified Hotel Broker, with distinction, from the organization, and was recognized as HBI’s Broker of the Year for the Northeast Region in 2003.
Optimum Hotel Brokerage’s principal is Joe McCann. Joe is a twenty-five year hotel industry veteran who has held senior management positions with Hilton and Marriott at their largest and most successful corporate and franchised properties. Joe holds a Bachelor of Science Degree in Hotel, Restaurant and Institutional Management from the Pennsylvania State University and a Master of Hospitality Management degree (with concentration in Hotel Finance) from the Conrad N. Hilton College of Hotel and Restaurant Management at the University of Houston. He has also completed advanced Finance, Real Estate Finance, Hotel Valuation, and New Venture Development courses offered by the University of Connecticut, the University of Texas, Cornell University, and the University of Houston’s Melcher Graduate School of Business. He has been an active broker and consultant in the hospitality industry, with assignments ranging from hotel feasibility projects to multi-unit restaurant development.
For complete exclusive listings of hotels for sale, please go to www.optimumbrokerage.com. For a complimentary valuation of your hotel, call 203-254-3904.
Joe McCann, President
Optimum Hotel Brokerage
733 Rowland Road
Fairfield, CT 06430
Phone: 203-254-3904, Fax:203-319-9910
For more information, listings, or a complimentary
|Also See:||Optimum Hotel Brokerage Sells 350 Room Crowne Plaza® Hotel in Hartford, Connecticut / November 2004|
|Optimum Hotel Brokerage Sells Hampton Inn in Sturbridge Massachusetts / July 2004|
|Optimum Hotel Brokerage Joins Hotel Brokers International / May 2003|
|Industry Veteran Launches Hotel Brokerage Firm: Optimum Brokerage / December 2001|