Suburban Philadelphia Hotel Sold to Regional Operator
Park, PA, August 28, 2006 - Optimum Hotel Brokerage announced today that
the firm has closed on the sale of the Comfort Inn & Suites Brandywine
Valley. The 75-room hotel is located in West Chester, Pennsylvania,
a suburban market of Philadelphia. Joe McCann, president of Optimum
Hotel Brokerage represented the seller in the transaction. The select service
hotel was purchased by a Mid-Atlantic-based multi-unit owner and operator.
The three-story hotel was built in 1998 and features an indoor pool, two
meeting rooms, gift shop, fitness room and Jacuzzi suites. The Comfort
Inn & Suites Brandywine Valley has earned Choice's prestigious Gold
Award for six years.
"The Comfort Inn & Suites Brandywine Valley's superb location, excellent condition, Comfort branding, and consistent financial performance made this asset highly attractive to capable buyers" explained McCann. "The hotel enjoys consistently improving business from many of the corporate and leisure demand generators in the market, which has high economic and regulatory barriers to entry." Optimum Hotel Brokerage created a targeted marketing campaign that stimulated buyer interest and competition, resulting in multiple asking-price, non-contingent offers.
The sale was one of the highest per-room prices ever paid for a Comfort Inn hotel, according to Hotel Brokers International's Tranactions database.
Philadelphia, Pennsylvania-based Optimum Hotel Brokerage is a full service hotel brokerage firm. The firm's recent sales include the 1,639-room Palmer House Hilton in Chicago; the 153-room Days Inn Rochester Airport in Rochester, New York; the 197-room Southbury Hilton in Southbury, Connecticut; the 150-unit Best Western Lawton in Lawton, Oklahoma; the 161-unit Holiday Inn Express Waterbury in Waterbury, Connecticut; the 100-room Days Inn in Niantic, Connecticut, the 153-unit Days Hotel in Rochester, New York, the 304-room Crowne Plaza Meadowlands in Secaucus, New Jersey and the 350-room Crowne Plaza Hartford in Hartford, Connecticut. Optimum Hotel Brokerage expanded its operations and opened their Philadelphia headquarters office in November 2005.
Optimum Hotel Brokerage is also a member 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 75 hotel real estate broker specialists, HBI provides the hospitality industry with the 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 in 2003 and 2004. HBI has also awarded McCann with the Portfolio Sale of the Year award in 2004 and Unique Deal of the Year award in 2004 and 2005. Most recently, Optimum Hotel Brokerage and Joe McCann were awarded HBI's prestigious Broker of the Year Award for 2005.
Optimum Hotel Brokerage's principal is Joe McCann. Joe is a twenty-eight year hotel industry veteran who has held senior management positions with Hilton and Marriott at their largest and most successful corporate and franchised properties. Joe holds a Bachelor of Science Degree in Hotel, Restaurant and Institutional Management from the Pennsylvania State University and a Master of Hospitality Management degree (with concentration in Hotel Finance) from the Conrad N. Hilton College of Hotel and Restaurant Management at the University of Houston.
He has also completed advanced Finance, Real Estate Finance, Hotel Valuation, and New Venture Development courses offered by the University of Connecticut, the University of Texas, Cornell University, and the University of Houston's Melcher Graduate School of Business. He has been an active broker and consultant in the hospitality industry, with assignments ranging from hotel feasibility projects to multi unit restaurant development.
Optimum Hotel Brokerage has recently endowed a Trustee Scholarship at the Pennsylvania State University. The scholarship provides financial assistance to four students demonstrating financial need at Penn State's School of Hospitality Management.
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.
Joe McCann, President
For more information, listings, or a complimentary
|Also See:||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|