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Paramount Lodging Advisors Arranges the Sale of the Sky Rock Inn – Sedona, Arizona
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 Successfully Transacts in Houston With the Sale of the Four Points by Sheraton Hobby Airport
Paramount Lodging Advisors | April 6, 2022
Houston, TX - Paramount Lodging Advisors (PLA) has successfully executed the sale of the Four Points by Sheraton Hobby Airport. Austin, TX-based Sr. Managing Director Kami Burnette and Sr. Associate Mason McDavid along with Sr. Managing Directors Brent Clemens and Bennett Webster represented the special servicer in the transaction. The 79-key, 2011 built hotel is ideally located near Hobby Airport. The buyer has increased the number of hotels owned in the submarket and is looking to capitalize on economies of scale as the Hobby submarket continues to recover after airline travel was disrupted with the onset of COVID-19. “With viru...
Paramount Lodging Advisors Successfully Transacts Godfrey Tampa
Paramount Lodging Advisors | August 17, 2021
Paramount Lodging Advisors (PLA) has successfully executed the sale of the Godfrey Hotel & Cabanas Tampa. The PLA team representing the seller was led by Bennett Webster, Brent Clemens, and Brian Guernier. The sale allowed the lender to unwind their existing interest on the $45MM non-performing loan. “Despite the ongoing national and regional challenges in the current market, our team remains very bullish on the longer-term industry rebound. We believe Florida will remain at the forefront of the recovery,” stated Bennett Webster The sales add to Paramount Lodging Advisors’ continued and unprecedented success over the cou...
Paramount Lodging Advisors Successfully Closes a Five-Hotel Portfolio Sale in Texas
Paramount Lodging Advisors | August 16, 2021
Paramount Lodging Advisors (PLA) has successfully executed the sale of a TownePlace Suites and four Fairfield Inn & Suites(s) located throughout the Houston MSA and Victoria, TX. The PLA team representing the seller included Texas-based Managing Director Kami Burnette and Associate Mason McDavid, as well as Senior Managing Directors Bennett Webster and Brent Clemens. The five assets totaled ~360 rooms and were sold to individual buyers. “In spite of the continuing COVID-related impairments, market fundamentals are improving and the midscale buyer segment is aggressively pursuing acquisitions with the assistance of SBA financing ...
Paramount Lodging Advisors Successfully Transacts in Texas, Louisiana, Oklahoma With Seven-Asset Portfolio Sale
Paramount Lodging Advisors | August 12, 2021
Paramount Lodging Advisors (PLA) has successfully executed the sale of the Courtyard Houma LA, Staybridge Suites Laredo TX, Holiday Inn Express & Suites Cotulla TX, Fairfield Inn & Suites San Angelo TX, Staybridge Suites San Angelo TX, Springhill Suites Ardmore OK and Hampton Inn Denton TX via online auctions. The hotels were part of a larger portfolio. The PLA team representing the seller was led by Kami Burnette, Brent Clemens, and Bennett Webster “Despite the ongoing national and regional challenges in the current market, our team remains very bullish on the longer-term industry rebound and we believe Texas will remain at...
Paramount Lodging Advisors Arranges the Sale of the Holiday Inn La Mesa San Diego, California
Paramount Lodging Advisors | July 14, 2021
Paramount Lodging Advisors (PLA) is pleased to announce the sale of Holiday Inn La Mesa San Diego to Greens Group based in Irvine CA. The hotel is located at 8000 Parkway Dr, La Mesa, CA, proximate to a diverse base of demand generators that included San Diego State University, Sharp Grossmont Hospital, Regen BioPharma, Zander Therapeutics, Grossmont Center for Clinical Research, and Kaiser Permanente. The two-story, 141-room, Holiday Inn hotel will undergo a multi-million-dollar renovation to be repositioned as a Holiday Inn Express. The PLA team members Senior Managing Director, Scott Griemsmann and Senior Associate, Subu Thiagarajan ...
Paramount Lodging Advisors Successfully Transacts Las Vegas Hotel
Paramount Lodging Advisors | June 29, 2021
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the property at located at 1440 E Craig Rd, North Las Vegas was represented by Associate, Suzanna Farley Aldrich. “The My Place Hotel Franchise added a new franchisee to its family with the sale of the North Las Vegas My Place Hotel. Congratulations to both the seller and the buyer! This property is a great addition to the buyers’ growing portfolio and allows the franchise to continue its impressive growth even in this challenging market,” stated Suzanna. The four-story, 63-room, MyPlace Hotel opened in 2018 in one of Nevada’s fastest-growing cities. The Hotel i...
Paramount Lodging Advisors Arranges the Sale of the DoubleTree by Hilton St. Louis Airport Hotel
Paramount Lodging Advisors | May 25, 2021
St. Louis, MO—Paramount Lodging Advisors (PLA) has successfully sold the DoubleTree St. Louis Airport located at 4505 Woodson Rd. PLA Associates Beau Mullenix and Lora Simpson, and Senior Managing Director Adam Montufar represented the seller in this transaction. The sale of the 158-room hotel is the second property transacted by PLA in the St. Louis market to close this month. The DoubleTree by Hilton STL Airport recently underwent a comprehensive $5.5MM renovation and is ideally located directly South of St. Louis Lambert International Airport. "Selling a privately owned, full-service airport hotel during COVID is not an easy assign...
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