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Hotel AG Negotiates Contract for Baton Rouge SpringHill Suites

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ATLANTA �May 11, 2009� � Hotel Assets Group, LLC (Hotel AG), announced today that the firm negotiated a Purchase and Sale Agreement for the SpringHill Suites currently under construction in Baton Rouge, Louisiana on behalf of Viking Hospitality.  The 119-room property will be sold to Apple REIT for an undisclosed amount and will be managed by Prism Hotels & Resorts. 

�The signing of the Purchase and Sale Agreement was very timely for both the buyer and the seller,� Keith Thompson, principal of Hotel AG remarked. �Both parties are anticipating the closing to occur around the end of June 2009.�

The hotel will be well situated in the Baton Rouge market and will consist of 119 guest rooms and offer all the amenities and services of a newly built SpringHill Suites. 

About Hotel AG
Headquartered in Atlanta, Georgia, Hotel AG is a specialized brokerage firm offering hotel-specific real estate and investment banking within the United States. The company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Today Hotel AG has approximately 75 hotels on the market totaling 8,000 rooms. Hotel AG can be found online at 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 Announces Sale of an Approved Candlewood Suites Development / May 2009
Hotel AG Advises LNR Property Corporation in Sale of Independent Hotel in Fairborn, Ohio / April 2009
Hotel AG Structures Sale of Historic French Quarter Hotel / April 2009
Hotel AG Highlights Latest Exclusive Engagements / April 2009
Hotel AG Completes the Sale of the 7 Property Select Service Hotel Portfolio/ October 2008
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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