Oklahoma City, OK – HotelBrokerOne (“HB1”) recently completed the sale of the Holiday Inn Express & Suites Quail Springs in Oklahoma City, Oklahoma. This limited service, 92-unit hotel is located in Northwest Oklahoma City, at the crossroads of the John Kilpatrick Turnpike/Interstate 44 and Lake Hefner Parkway. The hotel overlooks the Quail Creek Golf and Country Club.
HB1 CEO and founder, Bruce Holmes said “This was a unique and highly desirable asset. The highly sought after Memorial growth corridor and physically attractive location led to substantial interest from the market.” Holmes went on to state “This is a strong indicator that hotel investment deals and values are beginning to rebound nicely after over a year’s decline in transactions during the pandemic.”
After a short term national marketing effort led to multiple offers, the hotel sold on June 15 with a publicly recorded sales price of $4.75M. The Oklahoma based investor will retain the IHG Holiday Inn Express brand on the hotel with the new ownership investing in substantial improvements and upgrades.
Public records show the purchaser was recorded as OM GANESHAYA NAMAHA LLC and the seller was shown as MPMH INVESTMENTS LLC.
HotelBrokerOne is a national hotel brokerage firm that has sold over 800 hotels since inception. For more information go to www.hotelbrokerone.com.