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Hotel AG Announces Sale of an Approved
Candlewood Suites Development

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ATLANTA “May 4, 2009” – Hotel Assets Group, LLC (Hotel AG), announced today that the firm arranged the marketing and sale of an approved Candlewood Suites development located in Port Royal, South Carolina.  The site was sold to Newport Hospitality Group on behalf of an association with The Spartan Group of South Carolina for an undisclosed amount.

“Due to a deep relationship with the buyer and seller we were able to facilitate a quick close, which in today’s economy is extremely challenging,” remarked Alex White, vice president of Hotel AG. “The Candlewood Suites project meets the demand need of the Port Royal market and represents one of the best extended-stay brands available.”  

Port Royal is a town located in the southernmost county in South Carolina, situated between Savannah, Georgia, and Charleston, South Carolina.  The area, known as the Low Country, is home to two military installations, the Naval Hospital and the Marine Corps Recruit Depot at Parris Island.  Port Royal is located three miles from the historic city of Beaufort, a popular tourist destination and home of the Marine Corps Air Station.

The approved three-story, Candlewood Suites will feature 82 keys with 12 studio suites, 20 one-bedroom suites and 50 two-bedroom suites each with fully equipped kitchenettes.  Amenities will include an on-site fitness center, guest laundry facility and the signature Cupboard by Candlewood Suites convenience shop.

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
kthompson@hotelassetsgroup.com
www.hotelassetsgroup.com
 

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Also See: 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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