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in Kenilworth, New Jersey; . Garden State Independent Boutique Sold to Multi-Unit Operator and Developer |
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 Elkins
Park, PA, April 17, 2008 - Optimum
Hotel Brokerage announced today that the firm has closed on the sale
of the Kenilworth Inn in Kenilworth, New Jersey. The 112-room independent
boutique hotel occupies a prominent and highly visible exit location on
New Jersey's busy Garden State Parkway. The full service hotel was
purchased by Brix Hospitality, a prominent New Jersey-based owner and operator,
from Kenilworth Capital, who had owned the hotel since 1993. The
hotel features an outdoor pool, full service restaurant and lounge, banquet
and meeting space, and a business center. The property also includes
an additional 1.5-acre parcel, which could be used for future expansion
and development. Joe McCann, president of Philadelphia-based Optimum
Hotel Brokerage represented the seller in the transaction.
"The Kenilworth Inn has an excellent Garden State Parkway exit location and is less than one half hour's drive to New York City. It's well positioned to attract the numerous demand generators in the high barrier-to-entry northern New Jersey market," explained McCann. "I was pleased to work with the owner in harvesting the hotel's value and achieving his goal of a professional and discreet transaction. I'm confident that the Kenilworth Inn's new owners will capitalize on the property's irreplaceable location and development potential to achieve substantial future value. We were proud to work with both parties in crafting this win-win deal." Philadelphia, Pennsylvania-based Optimum Hotel Brokerage is a full service hotel brokerage firm. The firm's recent sales include the 69-unit Best Western Berkshire Inn in Danbury, Connecticut; the 67-room Motel 6 Augusta in Augusta, Maine; 115-room Westport Inn in Westport, Connecticut; the 66-room Holiday Inn Express Plainfield in Plainfield, Connecticut: 153-room Best Western Colonial Hotel in East Windsor, Connecticut; the 1,639-room Palmer House Hilton in Chicago; the 75-unit Comfort Inn & Suites Brandywine Valley in West Chester, Pennsylvania; the 153-room Days Inn Rochester Airport in Rochester, New York; the 197-room Southbury Hilton in Southbury, Connecticut; the 150-unit Best Western Lawton in Lawton, Oklahoma; the 93-room Days Inn in Niantic, Connecticut; the 171-unit Radisson Rochester Airport in Rochester, New York; the 161-unit Holiday Inn Express Waterbury in Waterbury, Connecticut; the 100-room Days Inn in Niantic, Connecticut, the 153-room Best Western Albany Airport in Albany, New York: the 153-unit Days Hotel in Rochester, New York, the 304-room Crowne Plaza Meadowlands in Secaucus, New Jersey and the 350-room Crowne Plaza Hartford in Hartford, Connecticut. Optimum Hotel Brokerage is a primary source for buyers seeking hotels
for sale and maintains hotel listings in many northeastern states.
Optimum Hotel Brokerage's principal is Joe McCann. Joe is a thirty year hotel industry veteran who has held senior management positions with Hilton and Marriott at their largest and most successful corporate and franchised properties. Joe holds a Bachelor of Science Degree in Hotel, Restaurant and Institutional Management from the Pennsylvania State University and a Master of Hospitality Management degree (with concentration in Hotel Finance) from the Conrad N. Hilton College of Hotel and Restaurant Management at the University of Houston. He has also completed advanced Finance, Real Estate Finance, Hotel Valuation, and New Venture Development courses offered by the University of Connecticut, the University of Texas, Cornell University, and the University of Houston's Bauer Graduate School of Business. He has been an active broker and consultant in the hospitality industry, with assignments ranging from hotel feasibility projects to multi-unit restaurant development. Optimum Hotel Brokerage has endowed a Trustee Scholarship at the Pennsylvania State University. The scholarship provides financial assistance to four students demonstrating financial need at Penn State's School of Hospitality Management. For complete exclusive listings of hotels for sale, please go to www.optimumbrokerage.com. For a complimentary valuation of your hotel, call 215-572-7711. |
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Joe McCann, President
For more information, listings, or a complimentary
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