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CLOSED TRANSACTIONS
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ROOM COUNT |
PRICE
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AGENT |
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Best Western Peachtree City
Peachtree City, GA
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| Price | $1,450,000 |
| Price per Room | $28,432 |
| Select Service | |
| Room Count | 51 |
| Agent | Anthony Falor |
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• Desirable Atlanta suburban market
• Newly built in 1998
• Attractive branding
• Unencumbered by management
• SBA Financeable
Built in 1998, the 51-room Best Western Inn & Suites is situated perpendicular to State Route 74, with the porte cochere fronting Crosstown Road and a two-story exterior corridor hotel structure behind the entry. Guests enter the lobby through doors covered by the porte cochere. As guests enter the lobby, the registration desk is on the left and a sitting area is on the right. The breakfast lounge is situated at the end of the lobby area, as is the public restroom. The lobby floors are a combination of patterned tile and carpeting. The swimming pool is adjacent to the backside of the hotel. There is an exercise room and a vending area on property.
Guestrooms feature cherry finishes, mounted headboards, nightstands with table lamps, large work desks with ergonomic desk chairs, a sitting area with a sofa and coffee table, dark patterned carpeting, bedspreads and drapes, 25” televisions with premium channels including HBO, and two 2-line telephones. Each guest room also offers a microwave, mini-refrigerator, coffeemaker, hairdryer, iron and ironing board. Heating and cooling is provided by PTAC units.
The Best Western Inn & Suites is located in Peachtree City, Georgia, and is part of Fayette County. Just 20 miles south of Atlanta, Peachtree City was established in 1959 as Georgia’s first master-planned city. It is considered the most successful planned community in the United States. Peachtree City is an upscale bedroom community with an estimated 34,500 residents. The City is known for its 70-mile system of golf cart paths that run throughout the City and provide a secondary means of access to almost any destination within the city limits. More than 25 percent of the residents own a golf cart. The Best Western Inn & Suites is conveniently located within a short distance of numerous restaurants and shopping venues, including The Avenue Shopping Center of Peachtree City, which is a mere two miles from the hotel. Developed by Cousins Properties, the 175,000-square-foot Avenue Peachtree City houses such premier shops as Ann Taylor, Banana Republic, and Williams-Sonoma, as well as numerous chain and independent restaurants. More than 40 restaurants are located within a three-mile radius of the hotel. The Property is also within a driving distance of many popular tourist attractions in the Atlanta area, including Zoo Atlanta, the Georgia Aquarium, the Georgia Dome, the World of Coca-Cola and the Georgia World Congress Center. The Property is only 25 miles from Atlanta’s Hartsfield-Jackson International Airport.
The Property is close to the downtown area and many of the Peachtree City’s top corporate employers that include Panasonic Automotive, Cooper Lighting, World Aviation Holdings, Hoshizaki Icemakers, TDK Components, Avery Dennison Paper, and NCR. In addition, there are a number of leisure demand generators, particularly events, throughout the year that attracts families and helps to support weekend business.
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Clarion Inn & Suites Savannah
Savannah, GA
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| Price | $2,800,000 |
| Price per Room | $38,888 |
| Select Service | |
| Room Count | 72 |
| Agent | Anthony Falor |
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The Clarion Inn & Suites is a 72-room, interior corridor asset situated along the best Interstate 95 exit in Savannah, Georgia (Abercorn Street / Gateway Boulevard). The property was originally constructed in 2000, was renovated in 2007, and remains in very good condition today. Current management continues to invest in and maintain the property and installed a new saltwater filtration system for the pool and spa in December 2010. The new system cost more than $16,000, but should reduce the overall operating costs of the pool and spa significantly. New HVAC equipment has been installed in late-2010 and current management has steam cleaned and treated all of the carpeting throughout the property for stain resistance. The property contains 72 guestrooms and suites, of which more than 50% of the inventory is comprised of suites ranging in size from 360 to nearly 400 square feet. The property offers 15 king studio rooms, 15 double queen studio rooms, 33 double queen suites, 7 king suites, and a 600 square feet Manager’s Apartment complete with a walk-in closet, full kitchen set-up (featuring a new refrigerator and microwave), and 2 flat screen televisions.
The property sits between Fort Stewart and the Hunter Army Airfield and within close proximity to the area’s demand generators and attractions including: historic downtown Savannah, River Street, Savannah-Hilton Head International Airport, the Georgia Port Authority, Armstrong Atlantic State University, Savannah College of Art & Design, Dixie Crystals Sugar Company, Gulfstream Aviation, Flight Safety International, CSX Railroad, International Paper, the 165th Airlift Wing, and Tybee Island. Additionally, Savannah is famous for its many festivals and public events including its annual St. Patrick’s Day celebration, whereby hundreds of thousands of visitors gather along the bars and restaurants of River Street. The property is within close proximity to multiple restaurants including Applebee’s, Houston’s, Longh
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Orlando Inn Orlando
Orlando, FL
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| Price | $2,250,000 |
| Price per Room | $20,833 |
| Select Service | |
| Room Count | 108 |
| Agent | Anthony Falor |
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• Great location within close proximity to area attractions and demand generators
• Ideal owner/operator or regional management company opportunity
• SBA Financeable
• Unencumbered by management
Property Description
The 108-room, two-story, exterior corridor Orlando Inn (formerly Super 8) was built in 1987. The property is located less than 1/4 mile from International Drive (and its intersection with Universal Boulevard) and within close proximity to SkyVenture Orlando, Wet N’ Wild, Universal’s Islands of Adventure, Universal Studios, 7 miles from downtown Orlando, and 10 miles from Orlando International Airport. Additional demand generators include multiple shopping malls and centers, themed restaurants, Walt Disney World, Epcot Center, SeaWorld, The Titanic Experience, Ripley’s Museum, and the Orange County Convention Center to name a few. The Orlando Inn represents an excellent opportunity to reposition the hotel to a nationally recognized brand!
Market Description
Orlando is one of the top tourist destinations in the United States as well as a preferred convention location. As the U.S. economy continues to recover, leisure and corporate travel will continue to grow and Orlando will be a direct beneficiary of this expanded activity. In addition, the recent announcement that Southwest Airlines and Airtran will merge (in 2012) will mean additional direct routes to Orlando from the western and southwestern U.S., increasing the market’s reach and availability to millions of potential travelers. Orlando is home to the University of Central Florida (UCF, the 3rd largest university in the nation with a current enrollment of more than 53,000 students.
Tourism is one of the key components of Orlando’s economic base and the primary source of transient lodging demand in the market. With a 2010 total visitor attendance of more than 17.5 million, Walt Disney World’s Magic Kingdom is the largest tourist attraction in the United States, and one of the large
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Red Roof Inn New London
New London, CT
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| Price | $2,695,000 |
| Price per Room | $24,954 |
| Select Service | |
| Room Count | 108 |
| Agent | Anthony Falor |
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The Red Roof Inn is a 108-room, two-story, exterior corridor, limited service hotel located adjacent to Interstate 95, approximately 6 miles northwest of the Groton New London Airport and less than 1 mile from downtown New London. Approximately 60% of the state’s tourism is generated in the southeastern region of Connecticut where New London is located. Within 3 miles of the property are the Fort Trumbull State Park, Fort Griswold, Nautilus Park (U.S. Coast Guard Submarine Base), Connecticut College, Mitchell College, Connecticut Arborem, U.S. Coast Guard Academy, Submarine Force Museum, United States Submarine World War II Veterans Memorial, Crystal Mall, New London Mall, and the New London Shopping Center. Additional demand generators include Foxwoods Resort & Casino, Mohegan Sun Resort & Casino, Mystic Seaport, and Millstone Science Discovery Center. New London is only 15 miles from Norwich, 46 miles from Hartford, 106 miles from Boston, 127 miles from New York, and 374 miles from Montreal, Quebec.
Current ownership has spent approximately $330,000 (or nearly $3,100 per room) since 2006 including resurfacing of the parking lot, new through-the-wall PTAC units, hot water storage tanks, new second-floor walkways, handrailings, and stairways, improvements to the On-Command movie system, lobby improvements (addition of a coffee bar and new lighting), and linens throughout the entire property and continues to maintain the property well. Because of this work, we anticipate renovation requirements on a Change of Ownership PIP will be in the $300,000 to $400,000 range, or between $2,800 to $3,700 per room.
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Ramada Charleston House Inn Charleston
Charleston, WV
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| Price | $6,500,000 |
| Price per Room | $25,391 |
| Full Service | |
| Room Count | 256 |
| Agent | Anthony Falor |
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The Ramada Charleston House is an interior-corridor, high-rise, 12-story hotel centrally located in downtown Charleston, West Virginia. Located off Kanawha Boulevard, the Holiday Inn is directly across the street from the Kanawha River and is proximate to virtually every major downtown demand generator. Featuring 256 guestrooms, the Ramada is ideally suited for business or leisure guests. Each guestroom offers complimentary high-speed Internet access, telephone, color television with cable channels, iron and ironing board, coffee maker, and hairdryer. The hotel offers non-smoking guestrooms, free parking, a large outdoor swimming pool, a fitness center and business center. The hotel also offers 5 meeting rooms totaling approximately 12,000 square feet and highlighted by the 7,700-square-foot Grand Ballroom. Equally important, the Holiday Inn features two food and beverage outlets: The Atrium Café and the Chesapeake Crab House, currently inoperable (closed in late 2008) but available for repositioning or a third party lease scenario.
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