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Maxim Hotel Brokerage Closes Four Hotel Transactions in May

 

Newport Beach, CA - June 1, 2009 -- During this period of abnormally low transaction volume, Maxim Hotel Brokerage successfully completed four transactions in the month of May. The hotels, sold in four separate transactions, include the Americas Best Value Inn in Burnsville, Minnesota (67 rooms), Americas Best Value Inn in Sierra Vista, Arizona (52 rooms), Americas Best Value Inn in Palm Springs, California (62 rooms), and Americas Best Value Inn in Beloit, Wisconsin (60 rooms).

Maxim represented the Seller in each transaction, and the Purchaser for each property was a local or regional owner/operator. Jack Carr, Principal of Maxim Hotel Brokerage commented, “These closings demonstrate that while brokerage activity is at a low point with declining property level performance trends, there are still active buying and lending markets for these type of deals.”

Harry Pflueger, Principal at Maxim, added, “Pricing is a very dynamic, moving target in this market. It is very important to present the latest financial data available, broken down by month. Since performance took such a nose dive at mid-2008, it stands to reason that performance trends should show some stabilization over the coming months, which will help underwriting. Buyers and lenders like to see stability.”

Each acquisition was financed using SBA financing. Maxim represented a privately held seller in each of the above transactions, and expects to represent private sellers as well as lenders as troubled properties work their way through the system in the months ahead.

In February, Maxim also represented a private owner in the sale of the Gambler Casino in North Las Vegas, a non-restricted casino. The purchaser was a Las Vegas based private company with over 30 tavern/casino locations in Nevada.

About Maxim Hotel Brokerage
Maxim Hotel Brokerage, Inc. has offices in Newport Beach and Las Vegas with a focus on Western US hotel transactions and gaming properties in Nevada. The company was formed in 2002 by Jack Carr (jack@maxim-hb.com) and Harry Pflueger (harry@maxim-hb.com). Please contact Maxim to learn about properties for sale, or if you are considering selling your property.

 

 
Contact:
Harry Pflueger
Phone: (949) 759-8739 Fax: (949) 266-8252
E-mail: harry@maxim-hb.com
http://www.maxim-hb.com/
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Also See: Maxim Hotel Brokerage Announces Western Region Hotel & Casino Transactions / April 2007

Maxim Hotel Brokerage, Inc. Arranges the Sale of the 60-room Holiday Inn Express - Green Valley, AZ / December 2004

Maxim Hotel Brokerage, Inc. Arranges the Sale of the 120-room Hilton Garden Inn Rancho Mirage, CA / October 2004

Maxim Hotel Brokerage and BCL Hospitality Advisors, LLC Structure the 711-room Hotel San Remo Casino and Resort – Las Vegas, NV and Hooters Joint Venture / September 2004

Maxim Hotel Brokerage, Inc. Arranges the Sale of the 128-room Hampton Inn – Las Vegas (Summerlin), NV / July 2004

Maxim Hotel Brokerage, Inc. Completes Three Deals in the 3rd Quarter / September 2003


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