January 26, 2005 - Tandy O. Lofland, president of Intergroup Realty,
Inc. announced that the firm represented the private-investor purchaser
in the recent simultaneous acquisition of the 157-room Hampton Inn and
the 220-room Clarion Inn near Bush Intercontinental Airport in Houston,
Texas. The seller was represented by Steckroth Hospitality Group,
Inc. and the hotels are now operated by Richfield Hospitality. Brand affiliations
with Hampton and Clarion will remain in place and upgrades and improvements
will be made by the new owners.
The two hotels are adjacent to each other and share certain facilities
including a large restaurant, lounge, over 20,000 square feet of meeting
and banquet space, and other amenities. The proximity to the airport allows
the hotel to serve that expanding submarket while also benefiting from
recent positive trends in the Houston market for business, group, and leisure
guests.
About Intergroup:
Intergroup,
formed in 1980, provides transaction and development services for hospitality
and commercial properties in the U.S., Europe, the Caribbean and Latin
America, with an emphasis on full-service, first-class hotels, resorts,
and mixed-use developments. Company experience includes development,
marketing, and management of The Parkway, a 195-acre mixed-use development
next to Walt Disney World in Orlando, and transactions or projects involving
such hotel brands as Four Seasons, Hilton, Sheraton, Holiday Inn, Crowne
Plaza, Radisson, Hyatt, Homewood Suites, and Hampton Inn. Significant transactions
include the recent sale of the 317-room Hilton Knoxville; sale of the 718-room
Radisson Resort Parkway in Orlando; rebranding of the Four Seasons Hotel
Buenos Aires, Argentina and Four Seasons Resort Carmelo, Uruguay; and establishment
of a joint venture for the development of a new 200-room Hilton Garden
Inn near San Diego, CA.
Currently celebrating its 25th anniversary, Intergroup has provided
transaction and development services for nearly 14,000 units and over 60
properties worth well over $1 billion.
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