| Fairfield, Connecticut, March 31, 2005 � Optimum Hotel Brokerage announced
today that the firm has closed on the sale of the Days Inn in Niantic,
Connecticut. Joe McCann, president of Optimum Hotel Brokerage, represented
the seller, Niantic Hospitality, in the transaction. The hotel was
purchased by Bhagya Laxmi LLC, a regional limited service hotel operator.
The three-story, 93-unit Days Inn Niantic is located at Exit 74 of Interstate 95. The hotel features an outdoor pool, a full service restaurant, and more than 3,000 square feet of meeting space. Fairfield, Connecticut-based Optimum Hotel Brokerage is a full service hotel brokerage and hotel capital advisory service firm. In addition to the sale of the Days Inn Niantic, the firm�s sales within the past year include the 304-room Crowne Plaza Meadowlands in Secaucus, New Jersey; the 350-room Crowne Plaza Hartford 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 Airport 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 and 2004. HBI also awarded McCann with the Portfolio Sale of the Year and Unique Deal of the Year awards. 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. |
�The
Days Inn Niantic has a visible and accessible location at a popular Interstate
95 exit, and is close the area�s numerous corporate, leisure and government
demand generators. And, the hotel is also just minutes from the popular
Foxwoods and Mohegan Sun casinos.� Optimum Hotel Brokerage also assisted
the buyer in sourcing attractive first and second mortgage financing through
a local Community Investment Corporation.
