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 |
.
�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 |