Hotel Online  Special Report

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Holiday Inn Long Beach Sold; Colliers International
Hotels Acts as Advisor to the Seller
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Irvine, CA  - December 13, 2006 -- Colliers International Hotels announces that it has arranged the sale of the leasehold interest in the Holiday Inn Hotel & Conference Center Long Beach Airport.  The sale price was $21,000,000.

The Irvine and San Francisco offices of Colliers International Hotels arranged the transaction on behalf of the seller, DBV Star, LLC, and Elliott & Leatrice Latts.   The buyer was YHB Long Beach, LLC, with Wayne Williams of Wayne Williams and Associates acting as their advisor.

The seller acquired the property in December 2003 and had made substantial upgrades and improvements to the property.  The landmark hotel is recognizable for its 13-story cylindrical tower that overlooks Long Beach Airport and Interstate 405.  The full-service hotel features 222 guest rooms, 5,600 square feet of meeting space, an outdoor swimming pool, and a top-floor restaurant and bar. 

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 Hotelsí 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 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 Kaplan
Senior Vice President
Colliers International Hotels
(949) 724-5593
bob.kaplan@colliers.com

Rod Apodaca 
Senior Vice President
Colliers International Hotels
(949) 724-5589
rod.apodaca@colliers.com
 

Also See: SOMA Hotel Portfolio in San Francisco, California Is Sold; Colliers International Hotels Acts as Advisor to the Seller / October 2006
Crowne Plaza Hotel in Pleasanton, California Is Sold; Colliers International Hotels Acts as Advisor to the Seller / September 2006
Embassy Suites Buena Park-Disneyland Area Sold; Colliers International Hotels Acts as Advisor to the Seller / July 2006


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