June 15, 2012 - Leisure Real Estate Advisors,
LLC, is pleased to announce the successful sale of the Best Western
Holiday
Manor hotel located in McPherson, KS. Leisure Real Estate Advisors
represented
the Owner, a pair of local families, who had owned the hotel for 25
years. Sagar,
Inc, a Kansas City area based company, purchased the 109 unit quasi
full
service
hotel for an undisclosed price. The listing price was $3,750,000.
“Because of
its cash flow, this BW received a high level of investor attention.
Plus, it
represents the nicest meeting facilities in the local market, and the
owner had
created an ideal business model for the hotel,” comments Brent A.
Jaynes,
co-founder and managing partner of Leisure Real Estate Advisors. The
deal
involved a long term leasehold interest with a franchisee of Montana
Mike
restaurants. “Anytime one introduces a leasehold interest into the
equation of
a hotel deal, it elevates the complexity”, observes Jaynes. In this
instance,
the leasehold was with a strong operator, which also benefited the
hotel.
Sagar, Inc will retain the Best Western flag and will continue the same
level
of operations.
“This deal represented a sale between two seasoned and fair
businessmen. It was
a pleasure working with each in getting this deal closed,” concluded
Jaynes.
Leisure Real Estate Advisors, LLC is
based in metro Kansas City, with offices
in Lincoln, NE and Jefferson City, MO, and has a specialty
concentration in the
marketing and sale of hotels. Over its 13 year existence, the company
has
become one of the premier hotel brokerage firms in the central US and
has been
recognized by
Hotel Business
and
Hotel Motel Management
magazines for its performance.
For more information on these
sales or to discuss the investment market in general, please direct
your
questions any of the brokers or to: