News for the Hospitality Executive |
Hotel AG Completes the Sale of the 7 Property
Select Service Hotel Portfolio
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H. Keith Thompson said: �These transactions represent a very desirable well located portfolio of select service hotels. Additionally, these hotels are in the top tier of their respective fill patterns and operated very well within each market�s competitive set. The sale would have been competed earlier in the 2008 year; however several assets were based on existing loan assumptions. The sale represented a timely portfolio transaction for Newport Hospitality Group and Apple REIT.� Hotel AG is a specialized hotel brokerage firm with a market specialty in select service hotels with a per property market value under $25,000,000 such as the market segment these transactions represent. The partnership between Hotel AG and Cassidy & Pinkard Colliers gives Hotel AG access to 16 top US markets where Cassidy Pinkard Colliers� has regional offices. Currently, Hotel AG has approximately 60 hotels totaling $650 million on the market. For more information on Hotel AG please log onto www.hotelassetsgroup.com |
Contact:
H. Keith Thompson
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