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Hotel AG Completes the Sale of the 7 Property
Select Service Hotel Portfolio

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Atlanta, GA October 6, 2008 � Hotel AG announces today that it has officially completed the sale of a 7 property upscale select service hotel portfolio to Apple REIT.  The seller was Newport Hospitality Group, Inc.  

The transactions include the following hotels:

  162 - Room Courtyard by Marriott, Somerset, NJ
  125 - Room Courtyard by Marriott, Harrisonburg, VA
  101   Room Hampton Inn Concord, NC
  131 - Room Hampton Inn, Bowling Green, KY
  106 - Room Hampton Inn, Port Wentworth, GA
  143 - Room Hilton Garden Inn Columbia, SC
    82 - Room SpringHill Suites, Greensboro, NC


H. Keith Thompson
Principal

Brad Sinclair
Vice President
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H. Keith Thompson said: �These transactions represent a very desirable well located portfolio of select service hotels. Additionally, these hotels are in the top tier of their respective fill patterns and operated very well within each market�s competitive set. The sale would have been competed earlier in the 2008 year; however several assets were based on existing loan assumptions. The sale represented a timely portfolio transaction for Newport Hospitality Group and Apple REIT.�

Hotel AG is a specialized hotel brokerage firm with a market specialty in select service hotels with a per property market value under $25,000,000 such as the market segment these transactions represent. The partnership between Hotel AG and Cassidy & Pinkard Colliers gives Hotel AG access to 16 top US markets where Cassidy Pinkard Colliers� has regional offices.  Currently, Hotel AG has approximately 60 hotels totaling $650 million on the market.

For more information on Hotel AG please log onto www.hotelassetsgroup.com

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Contact:

H. Keith Thompson
Hotel AG / Hotel Assets Group. LLC
Office: (770) 692- 1605
Fax: (770) 692-1608
[email protected]
www.hotelassetsgroup.com
 

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Also See: Hotel AG, a Hotel Brokerage Company, Sells the Hilton Garden Inn Columbia, South Carolina / September 2008
Hotel Assets Group, LLC Sells Equity Stake in Company to Cassidy Pinkard Colliers / September 2008
Tom Huegel Joins Hotel A.G., A Hotel Brokerage Company / August 2008
Hotel A.G., a Hotel Brokerage Company Sells the Hilton Garden Inn (Savannah International Airport) Savannah, Georgia / August 2008
Hotel AG, a Hotel Brokerage Company, Engaged to Sell the Residence Inn/ Springhill Suites Development in Myrtle Beach South Carolina / July 2008
Hotel A.G., a Hotel Brokerage Company Sells the Hampton Inn Concord, North Carolina / March 2008
Hotel A.G., a Hotel Brokerage Company sells the 175-Room Doubletree Hotel located in Greensboro NC for $22,500,000 / February 2008
Hotel A.G., a Hotel Brokerage Company Sells the Day�s Inn Hotel Hickory, North Carolina / February 2008
Hotel A.G., a Hotel Brokerage Company Closes 2 Hilton Garden Inn Transactions / February 2008
Hotel A.G., a Hotel Brokerage Company Sells the Hampton Inn hotel Port Wentworth, Georgia / January 2008
Hotel A.G., a Hotel Brokerage Company, Closes 8 Hotel Transactions Within the Last Six Weeks / January 2008
Hotel A.G., a Hotel Brokerage Company Sells the Hampton Inn hotel Bowling Green, Kentucky / January 2008
Hotel A.G., a Hotel Brokerage Company Sells the Courtyard by Marriott hotel Harrisonburg, Virginia / December 2007
Hotel A.G., a Hotel Brokerage Company Sells the Courtyard by Marriott hotel Somerset, New Jersey / December 2007
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