ATLANTA, Georgia, January 25, 2005 - Thompson Calhoun Fair, LLC, an
Atlanta-based hotel real estate firm, announced today that it advised The
Mullenix Companies and Dominion Hospitality in the disposition of the Fairfield
Inn by Marriott located in Fenton, Missouri. The hotel is situated proximate
to the intersection of Interstates 44 and 270, approximately 10 miles southwest
of downtown St. Louis in one of the city�s most densely developed commercial
sub-markets. The Fairfield Inn consists of a three-story, interior-corridor
building comprising 106 guest rooms. Amenities include a lobby/sitting
area, a breakfast area, an indoor swimming pool and spa, an outdoor sundeck
and an exercise room. The hotel opened in July 1997 and is
situated on approximately 2.53 acres of land within the Fenton Office and
Industrial Park. The property was sold for an undisclosed sum.
Tom Papelian, Vice President of the
firm stated, �Transactions in today�s market frequently encounter extraordinary
capital requirements imposed by the franchise which are intended to preserve
the future of the license agreement and brand integrity. In this
particular instance the buyer and seller approached the brand requirements
as a team and worked closely together to virtually eliminate unforeseen
costs and challenges associated with PIP requirements during a change of
ownership. The approach resulted in an efficient transaction and
sales process.�
About Thompson Calhoun Fair
Thompson Calhoun Fair was formed to focus on servicing the transaction
needs |
From the left - Al Calhoun, Mark G. Fair (sitting),
and H. Keith Thompson |
of clients in all segments of the hotel industry. Founded in 2000,
Thompson Calhoun Fair is headquartered in Atlanta and is national in scope.
Thompson Calhoun Fair can be found on the Web at www.tcfhotels.com. |