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Paramount Lodging Advisors Arranges the Sale of the DoubleTree by Hilton – Pruneyard Plaza Hotel in Campbell/San Jose California

Paramount Lodging Advisors | March 22, 2019

Paramount Lodging Advisors (PLA) is pleased to announce the successful sale of DoubleTree by Hilton Campbell – Pruneyard Plaza, located at 1995 Bascom Avenue, Campbell, CA. The hotel is part of the 30-acre landmark Silicon Valley mixed-use Pruneyard development, and enjoys excellent accessibility to all of the Valley. In addition to the hotel, there is approximately 365,000 square feet of office, 260,000 square feet of retail, and 2,115 parking spaces. The hotel is located just over five miles from downtown San Jose and San Jose International Airport, with excellent accessibility to all regional demand generators, including Levi's...

Paramount Lodging Advisors Sells Ocean Front Gold Beach Inn, Ireland’s Rustic Lodges & RV Park and Ireland’s Commercial Income Property in OR

Paramount Lodging Advisors | January 31, 2019

Paramount Lodging Advisors (PLA) has successfully executed the transaction of the Ocean Front Gold Beach Inn, Ireland's Rustic Lodges & RV Park and Ireland's Commercial Income property in Gold Beach, OR. Senior Managing Director Scott Griemsmann and Senior Associate Subu Thiagarajan represented the seller in the sale. This transaction presented the buyer a unique opportunity to acquire two independent hotels, an RV Park, and commercial rental units on several acres between the Pacific Ocean and coastal Highway 101. Upon completion of a property improvement plan (PIP), upgrading technology, and implementation of professional manageme...

Paramount Lodging Advisors Sells Bakersfield, CA Four Points by Sheraton Hotel

Paramount Lodging Advisors | January 25, 2019

Paramount Lodging Advisors (PLA) has successfully executed the transaction of the 198-room Four Points by Sheraton Bakersfield, California. The property is located at 5101 California Avenue, Bakersfield CA 93309. Senior Managing Director Scott Griemsmann and Senior Associate Subu Thiagarajan represented the seller in the sale. This transaction presented the buyer a unique opportunity to acquire a core-branded Marriott hotel at a fraction of replacement cost in a market with significant growth prospects. The hotel is situated on ~7.7 acres of prime commercial land in Central Bakersfield which also offers the buyer the potential for futur...

Paramount Lodging Advisors Launches Subsidiary, Paramount Capital Advisors

Paramount Capital Advisors | August 21, 2018

Paramount Lodging Advisors (PLA) is pleased to announce the launch of Paramount Capital Advisors (PCA). PCA expands Paramount's reach and expertise into the Capital Markets arena. PCA provides strategic advisory in debt financing and equity placements for institutional and individual real estate investors in the hospitality sector. Since launching the platform in July 2018, PCA's capital advisory team has successfully closed over $75,000,000 in transactions. PCA's capital advisory services further benefits Paramount Lodging Advisors' clients by providing a more extensive suite of services, such as customized capital solutions for acquis...

Paramount Lodging Advisors (PLA) Sells the Four Points by Sheraton & Banquet Center Sacramento International Airport

Paramount Lodging Advisors | July 27, 2018

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 ...

Paramount Lodging Advisors (PLA) Sells Texas Fairfield Inn & Suites

Paramount Lodging Advisors | July 9, 2018

Beaumont, TX - Paramount Lodging Advisors (PLA) has successfully executed the transaction of the Fairfield Inn & Suites in Beaumont, TX. Managing Director Kami Burnette and Managing Director Adam Montufar represented the seller in the transaction. The 74-room upper-midscale hotel was ideally located on Interstate 10 in Beaumont. The buyer was looking to capitalize on increasing revenues generated from the oil-driven market and substantially supplement the cash flow of their existing hotel portfolio. "Post Hurricane Harvey, the increasing commodities pricing is stabilizing the region and have presented an opportunity for the new owne...

How Halal Tourism Is Reshaping the Global Tourism Industry

Paramount Lodging Advisors | June 7, 2018

By Yulia Belopilskaya Spending by Muslim travelers is expected to rise to US$220 billion by 2020, with the number of Muslim tourists growing to 156 million from 121 million in 2016. That's according to the Global Muslim Travel Index (GTMI) 2017, which was produced by Mastercard and CrescentRating, a 'halal-friendly' travel consultancy. 'Halal' tourism is clearly a growing market segment, with Muslim tourists seeking destinations which meet their needs, in terms of diet, dress or rituals. Translated from Arabic, 'halal' means permissible in accordance with Islamic teaching. Alcohol, pork, nudity and gambling are off limits. With a burgeo...

Paramount Lodging Advisors Team Arranges Sale of the Holiday Inn Express St. Louis – Central West End St. Louis, MO

Paramount Lodging Advisors | May 25, 2018

St. Louis, MO—Paramount Lodging Advisors (PLA) has successfully sold the Holiday Inn Express St. Louis - Central West End (CWE) located at 4630 Lindell Blvd. PLA Associate Beau Mullenix, Managing Director Adam Montufar, and Senior Managing Directors Bennett Webster and Brent Clemens representing the seller in this transaction. The sale of the 127-room Holiday Inn Express adds to PLA's continued success both in St. Louis and on the Ten-X platform. The hotel is located in the epicenter of CWE's most high-profile retail and multi-family developments. "We were extremely pleased with the interest level received during this mar...