News for the Hospitality Executive
Hotel AG Closes Eight Hotel Transactions in Month of November
ATLANTA – December 6, 2010 – Hotel Assets Group, LLC (Hotel AG), announced today that the firm closed eight separate hotel transactions in the month of November. The transactions included upscale, select service and foreclosed assets located in South Central and Southeast US. The eight closings consist of three well-located Hilton select service hotels that sold to two separate REITs, one independent hotel, three bank foreclosures for Wells Fargo and one economy branded hotel for US Bank.
Several of the firm’s agents were involved in the disposition of the assets and commented on the transactions.
Wendy Blissett, vice president of Hotel AG remarked, "we have definitely seen an upswing in interest levels and activity from buyers over the past several months, which we believe is a good indicator of things to come."
“Creativity is definitely the name of the game and will continue to be the mantra for 2011 as we begin to crawl out of the basement, commented Brad Sinclair, vice president of Hotel AG.”
“There is still a lot of money sitting on the sidelines and with the improvements we have experienced recently in both hotel performance and the economy in general, the transaction market should improve significantly as we get into the first and second quarters of 2011,” Tom Huegel, vice president of Hotel AG stated.
Alex White, vice president of Hotel AG remarked, "we are seeing more sellers provide owner financing which is allowing us to get these deals across the finish line, particularly with distressed assets.”
"These transactions signal a strong rebound to the US hotel transaction market," said Keith Thompson, principal of Hotel AG. "We as a firm believe the greatest wealth creation cycle for hotel ownership has started."
About Hotel AG
Headquartered in Atlanta, Georgia with 16 national offices, Hotel AG is a specialized brokerage firm offering hotel-specific real estate and investment banking within the United States. The company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Today Hotel AG has 137 hotels on the market in 33 states valued at 1.2 billion. Hotel AG can be found online at www.hotelassetsgroup.com.
AG Brokers Sale of a Florida Hilton Portfolio / November 2010
AG Brokers Sale of the 163-room Irish Inn in Shamrock, Texas /
AG Engaged to Sell Five Hotel Portfolios / September 2010
|Hotel AG Sells West Monroe Hilton Garden Inn - Hilton Garden Inn West Monroe, LA / August 2010|
|Hotel AG Sells Hilton Garden Inn Lafayette, LaFayette, LA / August 2010|
|Hotel AG Sells Hilton Garden Inn Portfolio; Hilton Garden Inn LaFayette, LA and Hilton Garden Inn West Monroe, LA / August 2010|
|Hotel AG Sells Hilton Garden Inn Silver Spring, MD / August 2010|
|Hotel AG Sells Limited-Service Memphis Hotel - Hampton Inn, Collierville, Tennessee / July 2010|
|Hotel AG Structures Sale of the Rodeway Inn Hotel / July 2010|
|Hotel AG Sells the Orlando Howard Johnson / July 2010|
|Hotel AG Represents Forsyth Inns, Inc. in the Sale of the Holiday Inn Express in Forsyth, Georgia / July 2010|
|Hotel AG Sees Economic Conditions Improving for Hotel Transactions / June 2010|
|Hotel AG Negotiates Contract for Baton Rouge SpringHill Suites / May 2009|
|Hotel AG Announces Sale of an Approved Candlewood Suites Development / May 2009|
|Hotel AG Advises LNR Property Corporation in Sale of Independent Hotel in Fairborn, Ohio / April 2009|
|Hotel AG Structures Sale of Historic French Quarter Hotel / April 2009|
|Hotel AG Highlights Latest Exclusive Engagements / April 2009|
|Hotel AG Completes the Sale of the 7 Property Select Service Hotel Portfolio/ October 2008|
|Hotel AG, a Hotel Brokerage Company, Sells the Hilton Garden Inn Columbia, South Carolina / September 2008|
|Hotel Assets Group, LLC Sells Equity Stake in Company to Cassidy Pinkard Colliers / September 2008|
|Tom Huegel Joins Hotel A.G., A Hotel Brokerage Company / August 2008|
|Hotel A.G., a Hotel Brokerage Company Sells the Hilton Garden Inn (Savannah International Airport) Savannah, Georgia / August 2008|
|Hotel AG, a Hotel Brokerage Company, Engaged to Sell the Residence Inn/ Springhill Suites Development in Myrtle Beach South Carolina / July 2008|
|Hotel A.G., a Hotel Brokerage Company Sells the Hampton Inn Concord, North Carolina / March 2008|
|Hotel A.G., a Hotel Brokerage Company sells the 175-Room Doubletree Hotel located in Greensboro NC for $22,500,000 / February 2008|
|Hotel A.G., a Hotel Brokerage Company Sells the Day’s Inn Hotel Hickory, North Carolina / February 2008|
|Hotel A.G., a Hotel Brokerage Company Closes 2 Hilton Garden Inn Transactions / February 2008|
|Hotel A.G., a Hotel Brokerage Company Sells the Hampton Inn hotel Port Wentworth, Georgia / January 2008|
|Hotel A.G., a Hotel Brokerage Company, Closes 8 Hotel Transactions Within the Last Six Weeks / January 2008|
|Hotel A.G., a Hotel Brokerage Company Sells the Hampton Inn hotel Bowling Green, Kentucky / January 2008|
|Hotel A.G., a Hotel Brokerage Company Sells the Courtyard by Marriott hotel Harrisonburg, Virginia / December 2007|
|Hotel A.G., a Hotel Brokerage Company Sells the Courtyard by Marriott hotel Somerset, New Jersey / December 2007|