Paramount Lodging Advisors | May 2, 2022
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Sky Rock Inn located in Sedona Arizona on behalf of Yang Capital. The 108-room hotel located at 1200 W Highway 89 in Sedona, is situated atop the West Sedona hilltop affording the best 360-degree views in the market. The hotel was purchased by Dauntless Capital Partners, an investment firm that builds and invests in durable businesses throughout the hospitality, consumer healthcare, manufacturing, and industrial sectors. The hotel will continue to operate under the Sky Rock Inn brand as well as the Spoken lifestyle experience, a supplemental brand to deliver an enhance...
Paramount Lodging Advisors Arranges the Sale of 649 Jones Street Formerly “Halcyon Hotel” Located in San Francisco, California
Paramount Lodging Advisors | September 7, 2016
Paramount Lodging Advisors (PLA) is pleased to announce the successful sale of the property at 649 Jones Street, formerly known as the "Halcyon Hotel" located in San Francisco. Scott Griemsmann, Senior Managing Director and Subu Thiagarajan, Broker Associate of the West Coast office represented the owners in the transaction. The property sold for a purchase price of $7 million/$259,259 per room. "This is a tremendous price for the owners and the purchasers achieved a very specific goal with the purchase," commented Griemsmann. The four-story, 27-room, SRO hotel opened in 1912 and was converted to alternative housing in 2013. The hotel r...
Paramount Lodging Advisors | June 20, 2016
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Days Inn Chicago. PLA exclusively represented the seller with Managing Directors Brent Clemens and Bennett Webster leading the efforts on the transaction. The sale comes after six decades of ownership by the seller and includes the 133-room hotel and all accompanying ground level retail. "Our team ran a quiet and targeted marketing process that yielded considerable interest from nearly all parties that we approached. The asset's irreplaceable location and strong in-place cash flow is augmented by the retail and made it highly desirable," noted Clemens. Webster added...
Paramount Lodging Advisors | April 19, 2016
CHICAGO, IL – Paramount Lodging Advisors (PLA) has completed the sale of the Hawthorn Suites by Wyndham. The 129-room extended stay property is located at 246 Daniel Webster Highway in Merrimack, New Hampshire. PLA Managing Directors Bennett Webster and Brent Clemens arranged the transaction. "We're pleased to get this one over the finish line and also with our continued success in the market. The trade follows our recent success on a four hotel Boston area portfolio and our work in the Connecticut I-95 corridor," noted PLA's Webster. "Similar to our other New England hotel transactions, there was a significant amount of interest ...
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