| Atlanta, GA January 14, 2008 – Hotel Assets Group, LLC,
known as “Hotel A.G.”, announces the closing of eight hotel transactions
within the last six weeks. The Transactions include the following hotels;
162 - Room Courtyard by Marriott- Somerset, NJ
Hotel A.G. has seven alliance offices located in South Florida, Baltimore/ Washington, Memphis, Louisville, Los Angeles and the greater Boston region.
H. Keith Thompson states “we at Hotel A.G. are very humbled to have been engaged to sell the portfolio for Newport Hospitality Group as well as delighted to have the opportunity to participate with Apple REIT.” He continues; “The lodging industry is clearly seeing value adjustments in the lower fill pattern segments that represent non-investment grade hotel brands, while the investment grade brand values remain consistently strong in their respective local markets as well as the public investor market. Hotel A.G. is a specialized hotel brokerage firm with a market focus in Select Service hotels with a per property market value under $25,000,000. Hotel A.G. is lead by long time industry professional H. Keith Thompson and primarily focuses on upscale Select Service hotels such as the asset class(s) represented by the above mentioned transactions. Hotel A.G. is currently marketing many similar assets that can be found on the following website. For more information on Hotel A.G. please log onto www.hotelassetsgroup.com |
“These
transactions represent several hotel market segments, from strategic REIT
purchases to bank foreclosure hotels” said H. Keith Thompson principal
of Hotel A.G. In several of the transactions Hotel A.G. represented Newport
Hospitality Group (NHG) in a portfolio sale to Apple REIT. Newport Hospitality
operates 29 hotels, with the majority positioned within eastern seaboard
states. NHG is widely respected within the hospitality industry. Apple
REIT needs no introduction as they have become one of the benchmarks for
the lodging industry as a whole.