Sacramento – Paramount Lodging Advisors has successfully sold the 100-room Four Points by Sheraton & Banquet Center Sacramento International Airport. The PLA team members representing this sale were Senior Managing Director, Scott Griemsmann and Associate Subu Thiagarajan.
This PLA-arranged sale is one of the highest price per key transactions (PPK) in the Sacramento region and one of the highest PPK Four Points by Sheraton trades in the country. JMK Hotels LLC/The Kehriotis Family purchased the hotel. Future plans for this hotel include a $2-million full-scale renovation to include an exterior refresh, all guestrooms, common areas, 14,000 square-feet of meeting space, and “The Gateway” restaurant.
“We are very pleased with the results of our marketing efforts. The owner was able to achieve an excellent value for the hotel. While the purchaser’s extensive capital investment will position the property to capitalize on the corporate expansion and growth in the region. These factors coupled with the brand’s access to the Marriott reservation system presents an excellent opportunity for the purchaser going forward,” commented Griemsmann.
This property is located at 4900 Duckhorn Drive just off Del Paso Road and Interstate 5 and includes 100 guest rooms, four stories and approximately 14,000 square feet of banquet/meeting space.