Hotel Online Special Report


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Jones Lang LaSalle Hotels Select Service Division
Closes a 15-Property Portfolio Sale
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ATLANTA – December 4, 2006 – Jones Lang LaSalle Hotels Select Service Division announced today that they advised Focus Hospitality Services, LLC in the disposition of a portfolio of 15 select service hotels.  The hotels were sold to a private partnership sponsored by Konover Hotel Corporation for an undisclosed amount.  Located in three prime locations across the United States, the properties comprise 1,103 rooms and include the following assets:
 
Property
Location
Rooms
Hampton Inn Kansas City, KS 76
Holiday Inn Express Kansas City, KS 96
Hampton Inn Marshall, MI 76
Holiday Inn Express Marshall, MI 66
Holiday Inn Express Chelsea, MI  65
Holiday Inn Express Mishawaka, IN 80
Country Inn & Suites Mishawaka, IN 62
Holiday Inn Express Fremont, IN 93
Holiday Inn Express Howe, IN 66
Holiday Inn Express LaPorte, IN 65
Holiday Inn Express Portage, IN 76
Holiday Inn Express & Suites Warswa, IN 76
Holiday Inn Express  Adrian, MI 60
Carlton Lodge Adrian, MI 98
Super 8 Adrian, MI 51
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“We were delighted to achieve an excellent result for our client, Focus Hospitality Services, LLC, in terms of procuring a buyer that recognized the value of this exceptional select service hotel portfolio,” said Monty Levy, senior vice president for Jones Lang LaSalle Hotels’ Select Service Division.

Mark von Dwingelo, senior vice president for Jones Lang LaSalle Hotels’ Select Service Division, said “The Jones Lang LaSalle Hotels marketing team overcame several market perception hurdles including the number of properties located in smaller, Midwest markets, a mix of select-service, economy and independent affiliations and the fact that all the hotels are under 100 rooms in size.  The team ran a competitive bid process that resulted in a number of attractive, qualified offers for one or more of the properties.”

“Monty, Mark and the entire Jones Lang LaSalle Hotels team helped us achieve our objective in the sale of this portfolio and provided us with invaluable guidance and advice throughout the entire process,” said Jerry Good, president for Focus Hospitality Services, LLC.

About Jones Lang LaSalle Hotels
Jones Lang LaSalle Hotels, the world’s leading hotel investment services firm, is uniquely positioned to provide both the depth and breadth of advice required by leading hotel companies and hotel investors globally. In 2005, Jones Lang LaSalle Hotels sold 32,049 hotel rooms to the value of US$7.9 billion in 72 cities, which represents an increase of 52% on the value of transactions in 2004. In addition advisory and valuation expertise was provided on 139,498 rooms to the value of US$31.8 billion across 265 cities. Jones Lang LaSalle Hotels adds value for clients through in depth market knowledge both in established and emerging markets, technical expertise and unrivalled experience. Their services include investment sales, mergers and acquisitions, capital raising, valuation and appraisal, asset management, strategic planning, operator assessment and selection, hotel consulting, industry research and project development services. Recently recognized by Forbes Magazine, on the prestigious Platinum 400 list, Jones Lang LaSalle (NYSE: JLL), the world’s leading real estate services and investment management firm, has more than 100 offices worldwide and operates in more than 430 cities in 50 countries. www.joneslanglasallehotels.com

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Contact
 
 
 

Jones Lang LaSalle Hotels Select Service Division

Monty Levy
monty.levy@am.jll.com

Mark von Dwingelo
mark.vondwingelo@am.jll.com

Phone:  +1 404 995 8970
www.joneslanglasallehotels.com

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Also See: Jones Lang LaSalle Hotels Select Service Division Closes the Sale of 19 Hotel Transactions in December / January 2006
Jones Lang LaSalle Hotels Select Service Division Closes a Nine-Property Hampton Inn Portfolio / January 2006
Jones Lang LaSalle Hotels Select Service Division Closes 10 Hotel Transactions / October 2005
Jones Lang LaSalle Hotels Select Service Division Closes Seven Hotel Transactions / July 2005
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