Hotel Online  Special Report


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Maxim Hotel Brokerage, Inc. Completes
Three Deals in the 3rd Quarter

 
NEWPORT BEACH, CA:  September, 2003 � Maxim Hotel Brokerage, Inc. has confirmed the sale of the 1,003-room River Palms Hotel & Casino in Laughlin, Nevada, the 239-room Radisson Hotel in Portland, Oregon and the PT Mining Company Casino in Henderson, Nevada. The team of Harry Pflueger, Jack Carr and Chris Chiotis of Maxim Hotel Brokerage�s Newport Beach, CA office completed all transactions.
 
The River Palms Hotel & Casino consists of 1,003 guestrooms, 75,000 square foot casino and five food and beverage outlets. Maxim Hotel Brokerage, Inc. represented the buyer, C.P. Laughlin in their purchase of the property. The property sold in September 2003 at an undisclosed price. C.P. Laughlin is a privately held hotel company that has over 55 hotels including five casinos.

The Radisson is an urban 10-story, 239 


River Palms Resort & Casino Laughlin
2700 South Casino Drive
Laughlin, Nevada
room hotel located proximate to the convention center in downtown Portland. The new owner has converted the hotel to a Holiday Inn and is adding meeting space to the hotel to help drive demand. Maxim Hotel Brokerage represented the seller, Westmont Hospitality, in the transaction. The buyer was a Washington-based real estate company.

The PT Mining Company Casino was sold by a Las Vegas family to a northern Nevada casino owner with multiple locations. PT Mining Company is a 12,300-square foot unrestricted casino located along Boulder Highway in the rapidly expanding Henderson, NV market. The new owner is renaming the casino Charlie Holder�s and has plans to expand it.

About Maxim Hotel Brokerage, Inc � Newport Beach-based Maxim Hotel Brokerage is a real estate brokerage firm dedicated exclusively to the hospitality industry with an emphasis in the Western Regional US hotel market and Las Vegas gaming market. Maxim retains a Las Vegas office and has completed seven separate hotel or hotel casino transactions in Nevada in the past twelve months. The Newport Beach-based firm was founded in 2002 by Harry Pflueger and Jack Carr, former Senior Managing Directors of Insignia Hotel Partners. The boutique brokerage firm is expanding on their 30 years of hospitality experience, their track record of $500,000,000 in successful hotel sales and their reputation as experienced and creative dealmakers.


 
Contact:

Harry Pflueger
949.759.8739
email: [email protected]
http://www.maxim-hb.com/


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