News for the Hospitality Executive |
Red Roof Inn - Detroit-Plymouth, MI - SOLD by Warmbrodt Hotel Investments, Inc. |
April 10, 2013 - Warmbrodt Hotel Investments, Inc. ("WHI") is pleased to announce the sale of the Red Roof Inn - Detroit-Plymouth, Michigan. WHI acted as exclusive advisor on behalf of the seller. "A silver lining in markets challenged by financing has been the absence of new supply. In Detroit, this environment has existed for several years, providing healthy operations to existing inventory. Consequently, well located and strong performing properties become an attractive investment ," said Zane Varvel, Vice-President of WHI. The 109-room, two-story, exterior-corridor property, consisting of two buildings, was built in 1975 and is located on Interstate 275 and Ann Arbor Road west of downtown Detroit and Northwest of Detroit Metropolitan Airport. The Detroit-Plymouth property will be renovated to new standards and maintain the Red Roof Inn franchise. Red Roof Inn consistently achieves high rankings in J.D. Power & Associates Guest Satisfaction Index Studies in the economy budget segment. The company has been expanding their franchise platform by selling certain assets to qualified franchisees. In conjunction with their $90 Million dollar renovation initiative, Red Roof is strategically implementing the NextGen redesign for all their properties. NEW INVESTMENT OPPORTUNITY Holiday Inn Express & Suites - East Wichita I-35 Andover The 77 room, 3-story, interior corridor property opened in 2007 and offers a heated, indoor pool and a well-equipped fitness center. It is located at 160th Street, Exit 50 off of I-35, in Andover, Kansas-the heart of East Wichita. More Information WHI is a growing real estate firm specializing in the disposition, acquisition, financing, and debt restructuring of hospitality related assets throughout the United States. For further information about this property and other current hotel property offerings, please contact: Herb Warmbrodt in Kansas City at (913) 381-3737, [email protected] Zane Varvel in Chicago at (312) 262-5930, [email protected] Lewis Thompson in Chicago at (312) 262-5930, [email protected] Sara Sullivan in Kansas City at (913) 381-3737, [email protected] If
you have interest in
buying or selling a hotel and would like a confidential Broker's
Opinion of
Value, please contact Herb Warmbrodt.
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Warmbrodt Hotel Investments Kansas City Office 1905 West 43rd Avenue Kansas City, Kansas 66103 913-381-3737 Chicago Office 22 W. Washington Street, Suite 1500 Chicago, IL 60202 312-262-5930 [email protected] www.whikc.com |