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Optimum Hotel Brokerage Sells First Mortgage Notes on Two New Jersey Hotels

Limited Service Hotel Notes Sold for Regional Bank


Philadelphia PA, June 20, 2012 Optimum Hotel Brokerage announced today that the firm has closed on the first mortgage note sale of two New Jersey limited service hotels: the Ramada Limited in Galloway and the Econolodge in Farmingdale.  Joseph R. McCann, Optimum’s president, was the exclusive hotel broker and Licensed New Jersey Real Estate Broker representing the seller in both note sale transactions, a regional bank.  The buyers of the notes were each regional hotel investors.



“The Ramada Limited hotel is a 129-unit former Hampton Inn located in the rebounding Atlantic City market” said McCann, “and the Econolodge Farmingdale is a 30-unit limited service hotel in the Asbury Park/Neptune market.”  “Optimum Hotel Brokerage has long been active in the New Jersey distressed hotel and note-sale market, and we’re able to target the marketing process to bring our clients efficient, non-contingent transactions.”  Optimum Hotel Brokerage has brokered numerous distressed hotel assets in the past twelve months, including the Days Inn Groton in Groton, Connecticut, the Hampton Inn Lehighton in Lehighton, Pennsylvania, the Inn at Panther Valley in Allamuchy, New Jersey, the York View Hotel in York, Pennsylvania, the Skyview Plaza Hotel in Philadelphia, Pennsylvania and the Litchfield Inn in Litchfield Connecticut.

Optimum Hotel Brokerage is also a member and Joe McCann is past 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 specialist s, 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 chairman 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 at the school.

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.

..
.Contact:

Joe McCann, President
Optimum Hotel Brokerage
23 Breyer Court
Elkins Park, PA 19027
Phone: 215-572-7711,  Fax: 215-572-7570
joe@optimumbrokerage.com

For more information, listings, or a complimentary
hotel valuation, visit www.optimumbrokerage.com


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Also See: ALIS UPDATE: Optimum Hotel Brokerage Posts Record Sales in 2011; Distressed Hotel Assets Drive Deal Volume / January 2012

Optimum Hotel Brokerage Sells Spencer Suites; Connecticut REO Property Sold for California Bank / January 2012

Optimum Hotel Brokerage Sells First Mortgage Note on Days Inn & Suites Groton; Connecticut Extended Stay Note Sold for Regional Bank / October 2011

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Optimum Hotel Brokerage Sells Litchfield Inn; Litchfield Hills Connecticut Boutique Hotel Sold / June 2011

Optimum Hotel Brokerage Sells JFK Plaza Hotel; Represented Trustee in Bankruptcy Sale of New York City Hotel / June 2011

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Optimum Hotel Brokerage Sells Inn at Panther Valley; New Jersey Boutique Sold with Cooperation from Regional Bank / January 2011

Optimum Hotel Brokerage Sells Hampton Inn First Mortgage Note; Note Sold for 90% of Mortgage Balance / December 2010

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Optimum Hotel Brokerage Sells Best Western Berkshire Inn In Danbury, Connecticut / March 2008

Optimum Hotel Brokerage Earns Broker of the Year Award for New England/Mid-Atlantic Region at 2008 Hotel Brokers International Convention / January 2008

Optimum Hotel Brokerage Advises on Sale of Motel 6 in Augusta, Maine / January 2008

Optimum Hotel Brokerage Sells Westport Inn in Westport, Connecticut; Boutique Connecticut Country Inn Sold to New York Developer / October 2007

Optimum Hotel Brokerage Sells Holiday Inn Express in Plainfield, Connecticut; Connecticut Casino Region Hotel Sold to New York-Based Operator / September 2007

Optimum Hotel Brokerage Earns Many Top Sales Awards Presented at 2007 Hotel Brokers International Convention / February 2007

Optimum Hotel Brokerage Announces Recipients of Optimum Hotel Brokerage Hospitality Management Scholarships; Four Students at Penn State’s School of Hospitality Management Awarded Scholarships / January 2007

Optimum Hotel Brokerage Sells Best Western Colonial Hotel and Conference Center; Hartford, Connecticut Hotel Sold to Regional Operator / October 2006

Optimum Hotel Brokerage Sells Comfort Inn & Suites Brandywine Valley; Suburban Philadelphia Hotel Sold to Regional Operator / September 2006

Optimum Hotel Brokerage Sells Days Hotel Airport in Rochester, New York / February 2006

Optimum Hotel Brokerage Sells Best Western Hotel in Lawton, Oklahoma; Teams with HBI Member-Broker Alan Brock and Associates to Sell Full Service Hotel / Februray 2006

Optimum Hotel Brokerage Named Hotel Broker of the Year at 2006 Hotel Brokers International Convention / Februray 2006

Optimum Hotel Brokerage Brokers Sale of Southbury Hilton in Southbury, Connecticut / January 2006

Optimum Hotel Brokerage Opens New Headquarters Office in Philadelphia / November 2005

Joe McCann of Optimum Hotel Brokerage Brokers Sale of Chicago’s Legendary Palmer House Hilton, Represents Thor Properties in $230 Million Transaction / August 2005

Optimum Hotel Brokerage Sells Holiday Inn  Express in Waterbury, Connecticut / May 2005

Optimum Hotel Brokerage Sells Days Inn in Niantic, Connecticut / March 2005

Optimum Hotel Brokerage Sells Crowne Plaza® Secaucus Meadowlands Hotel / January 2005

Optimum Hotel Brokerage Sells 350 Room Crowne Plaza® Hotel in Hartford, Connecticut / November 2004

Optimum Hotel Brokerage Sells Hampton Inn in Sturbridge Massachusetts / July 2004

Optimum Hotel Brokerage Joins Hotel Brokers International / May 2003

Industry Veteran Launches Hotel Brokerage Firm: Optimum Brokerage / December 2001


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