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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
kthompson@hotelassetsgroup.com
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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