 Los
Angeles, Sept. 27, 2010 - Colliers International Hotels/PKF Capital, as
exclusive advisor to the owner, has been retained to solicit offers to
purchase the 160-room Hollywood Heights Hotel located at 2005 N. Highland
Avenue in Hollywood, CA. The Hollywood Heights Hotel offers a potential
buyer the opportunity to realize the upside potential through repositioning
or branding of a full service hotel located in one of the most desirable
and strongest southern California locations. The property is being
offered fee simple, non-union, and unencumbered by management and brand.
The Hollywood Heights Hotel is located in the heart of Hollywood on Highland Avenue, within minutes of world-famous attractions including the Hollywood Walk of Fame, Grauman�s Chinese Theatre, Kodak Theatre, Madame Tussaud�s Hollywood Wax Museum, and the Hollywood Bowl. A strategic location for both business and leisure guests, the hotel is just a ten minute drive from numerous movie and television studios, including Universal Studios, MGM, NBC, ABC, and 20th Century Fox. The Hollywood Heights Hotel is currently positioned as a mid-market, full service boutique hotel. The opportunity exists to increase rate and occupancy, as well as food and beverage income, by making additional capital improvements with a strategy to either continue operating as an independent boutique, or as a national franchise branded property with a reservation and guest loyalty program. Bob Kaplan and Rod Apodaca of the Los Angeles office of Colliers International
Hotels/PKF Capital are handling the marketing and sale of the Hotel.
For further information, contact:
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