Hotel Online  Special Report

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Crowne Plaza Hotel in Pleasanton, California Is Sold
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Colliers International Hotels
Acts as Advisor to the Seller
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San Francisco, CA  - September 8, 2006 --  Colliers International Hotels announces that it has arranged the sale of the Crowne Plaza Hotel in Pleasanton, California.

Bob Eaton, Mark McDermott, and Henry Bose of Colliers International Hotels advised the seller, FelCor Lodging Trust, on the transaction. 

Located off of Highway 580 and across from Stoneridge Mall, the hotel has an excellent location in the heart of the Bay Area’s “Tri-Valley”.  The 244-unit hotel opened in 1986, and includes a restaurant, lounge, business center, outdoor swimming pool & jacuzzi, and approximately 5,500 square feet of flexible meeting space. 

The hotel was acquired by Pyramid Hotel Opportunity Venture II LLC.  The new owner plans to make a significant investment in the property, and take advantage of a market that has experienced room revenue increases of over 10% through the first half of 2006. 

“The Pleasanton/Dublin/Livermore lodging market has entered an excellent growth period, and this is likely to spur further hotel investment transactions in the region” says Bob Eaton, Executive Managing Director.

About Colliers International Hotels
Colliers International Hotels has been a premier provider of specialized brokerage and advisory services to the hospitality industry since 1989.  Colliers International Hotels’ U.S. practice is headquartered in San Francisco, and expanded to Southern California with the opening of its Irvine office in early 2005.  Colliers International Hotels has additional North American offices in Canada and Mexico, and has global offices in Europe, Asia and Australia.  Colliers International Hotels is part of Colliers International, a global real estate firm that provides a full range of services to commercial real estate users, owners and investors in 241 offices in 54 countries.

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Contact:

Bob Eaton
Executive Managing Director 
(415) 288-7860
bob.eaton@colliers.com

Mark McDermott 
Senior Vice President 
Colliers International Hotels
(415) 288-7815 
mark.mcdermott@colliers.com

Henry Bose, Jr.
Vice President
(415) 288-7808
henry.bose@colliers.com
 

Also See: Embassy Suites Buena Park-Disneyland Area Sold; Colliers International Hotels Acts as Advisor to the Seller / July 2006


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