News for the Hospitality Executive |
Hotel AG Brokers Sale of a 143-room Independent Hotel
in Erlanger, Kentucky
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ATLANTA � August 15, 2010 � Hotel Assets Group, LLC (Hotel
AG), announced today that the firm negotiated the sale of a 143-room independent
hotel in Erlanger, Kentucky on behalf of a local banking institution in
Elizabethton, Tennessee. The property sold to Sadiq Shaikh for an
undisclosed amount.
�This was a challenging assignment in regards to maximizing value due to being a bank-owned hotel,� Alex White, vice president of Hotel AG stated. �We were able to provide our client with a qualified and motivated buyer in the quick time frame needed. This resulted in significant savings for them as they eliminated the carrying costs and were able to remove the asset off their books.� The two-story, 143-room independent hotel formerly operated as a Days Inn. The property is located at the Cincinnati/Northern Kentucky International Airport. About Hotel AG
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Contact:
H. Keith Thompson
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