Hotel Online Special Report

Insignia/ESG Hotel Partners Confirms the Sale of Several  Hotels
Chicago, IL ­ May 17, 1999 ­ Insignia/ESG Hotel Partners has confirmed the sale of several  hotels in recent weeks.  The following individual transactions all involved private investors.

Insignia/ESG Hotel Partners has confirmed the sale of the Four Points Hotel by Sheraton in Greensburg, PA.  The 146-room hotel was sold by a private investor to Crown American Hotels for $6.15 million.  Tom Ives of the Atlanta office of Insignia/ESG Hotel Partners represented the seller in this transaction.

A 1998 President's Award Winner, the Four Points Hotel enjoys a dominant market position as the leading full-service hotel in the Greensburg market.  The property is located 30 miles southeast of Pittsburgh, and caters to businesses in the expanding suburbs throughout western Pennsylvania.  Crown American Hotels, based nearby in Johnstown, PA, adds this property to their growing portfolio of hotels, which now numbers in excess of 30 properties.

Senior managing director James Johnson of Insignia/ESG Hotel Partners' Chicago office represented the sellers in the following three individual transactions:  the 80-room Comfort Inn in Streetsboro, OH; the 60-room Days Inn in Crawfordsville, IN; and the 59-unit Knights Inn in Martinsburg, WV.

Managing director Tom Adamson represented the sellers in the following three transactions:  the 155-room Best Western in Coralville, IA; the 167-room Holiday Inn in Lansing, IL; and the 170-room Plaza Inn in Topeka, KS.

Insignia/ESG is one of the largest commercial real estate services providers in the United States, with comprehensive brokerage, property management, facilities management, consulting, investment sales and debt placement operations in many of America's top markets.  Insignia/ESG is a subsidiary of Insignia Financial Group, Inc., a publicly traded real estate company listed on the New York Stock Exchange under the symbol, IFS.

Insignia/ESG Hotel Partners is part of Insignia/ESG's Capital Advisors Group, which focuses on investment sales and debt financing for major properties of all types.  Insignia/ESG Hotel Partners is a leading full service real estate group for the hospitality industry, with brokerage, debt and equity financing, advisory and asset management operations in offices worldwide.  Insignia/ESG Hotel Partners has nine offices in North America, including Atlanta, Boston, Chicago, Dallas, Honolulu, Los Angeles, Miami, New York and San Francisco.

Jim Burba 949.553.0808
Kurt Lindsey 212.687.5500
Also See: Hotel Sales Activity Currently Strong Following the 'Dry Period' of Late 1998 Insignia/ESG / / May 1999 

To search Hotel Online data base of News and Trends Go to Hotel.Online Search
Back to Hotel.Online Press Releases
Home | Welcome! | Hospitality News | Classifieds | Catalogs & Pricing | Viewpoint Forum | Ideas/Trends
Please contact Hotel.Online with your comments and suggestions.