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Los Angeles, CA, January 24, 2012– Optimum
Hotel Brokerage announced today that the firm achieved record
sales in
2011. The transaction volume of assets
sold was primarily driven by an increase in distressed hotel asset
transactions. The announcement was made
today
by Joseph R. McCann, Optimum’s president, at America’s Lodging
Investment
Summit conference in Los Angeles.
In addition to brokering
a number of more traditional lodging sales in 2011, Optimum Hotel
Brokerage was
able to market and close almost every single classification of
distressed lodging
asset imaginable” said McCann. “Due to
our relationships and track record with lenders, regional banks,
servicers and
the legal community, we were able to successfully complete number of mortgage note sales, bank REO
property sales, a 363 bankruptcy auction sale, a structured short sale,
even a
distressed hotel asset held within a contested estate.
Sellers of distressed hotel assets recognize
our in-depth knowledge of Northeast markets and appreciate our ability
to
leverage the competitive nature of the distressed asset market to
achieve
optimum value.” |
In addition to distressed assets sold in 2011,
Optimum
Hotel Brokerage closed on the sale
of the 176-room Holiday Inn Columbia,
located
on I-95 in the Baltimore/Washington market. |
 A few of the
distressed hotel assets Optimum Hotel Brokerage brokered in 2011
include the
Spencer Suites (REO Sale) in Manchester, Connecticut; the Days Inn and
Suites (Note
Sale) in Groton, Connecticut, the Hampton Inn Lehighton (Note Sale) in
Lehighton, PA; the JFK Plaza Hotel (363 Bankruptcy Sale) in New York
City; the
Inn at Panther Valley (Structured Short Sale) in Allamuchy, New Jersey;
the
York View Hotel (REO Sale )in York, PA; the Skyview Plaza Hotel (Note
Sale) in
Philadelphia, PA; and the Litchfield Inn (Estate Sale) in Litchfield,
Connecticut.
Philadelphia-based
Optimum Hotel Brokerage is
also a member and Joe McCann is president of Hotel Brokers International,
the
world’s largest and oldest hospitality real estate organization, which
has a
rich heritage of experience and expertise in hotel real estate
valuation,
transactions and other essential services. Comprised
of some 50 hotel real estate broker
specialists, HBI provides
the hospitality industry with its most powerful hotel real estate
marketing
force, creating greater visibility
through a unified and inclusive
advertising and marketing approach. Mr.
McCann has earned the designation of Certified Hotel Broker, with
distinction,
from the organization, and was recognized as HBI’s Broker of the Year
for the Northeast
Region for many years. HBI has also
awarded McCann with the Portfolio Sale of the Year, and Unique Deal of
the
Year. Optimum Hotel Brokerage and Joe
McCann was awarded HBI’s prestigious Broker of the Year Award in 2006. Optimum Hotel Brokerage is also a provider of
expert witness testimony in hotel bankruptcy, distressed hotel
litigation,
franchising, and hotel operations.
Mr. McCann is president
of the Penn
State Hotel and
Restaurant Society, representing the
more than 7,000
alumni of Penn State's renowned School
of Hospitality Management.
Optimum Hotel Brokerage has endowed
scholarships at the school to provide financial assistance to students
demonstrating financial need.
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In March 2011 Optimum Hotel
Brokerage was hired
by New York Bankruptcy Court to execute the
363
Bankruptcy Sale of the JFK
Plaza Hotel at New York’s
JFK International
Airport. The property was sold to
an international
hotel investor.
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For complete
exclusive listings of hotels for sale, please go to www.optimumbrokerage.com. For a complimentary valuation of your hotel,
call 215-572-7711.
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