OKLAHOMA CITY – HotelBrokerOne (HB1) announced Champion Hotels has acquired a 4-hotel portfolio in Oklahoma from American Hotel Investment Properties (AHIP), a national REIT.
According to HotelBrokerOne, whose offices in Oklahoma City and Dallas led the deal, the purchase which closed on Dec. 6 consisted of two Holiday Inn hotels and a Staybridge in Oklahoma City, and a Hampton Inn in Woodward, Oklahoma, all together totaling 440 rooms. Public records show an aggregate purchase price of $26,250,000 for the four properties.
“The hotels will all remain as their respective brands with extensive renovations and upgrades planned to return the properties to their prominence as market leaders,” said Bruce Holmes HotelBrokerOne (Chief Executive Officer).
He explained how HotelBrokerOne, performing as the exclusive advisor to AHIP for the sale, sold the property in less than 90 days from market to close after having garnered interest and offers from many national investors.
“The Oklahoma City market has seen a significant increase in the hospitality business, with rates hitting a 10-year high in October and occupancy continuing to recover near pre-COVID levels.”
Along with Holmes, the transaction included HotelBrokerOne advisors Bert Stevens and Joe Strain from the Dallas office, as well as Peter Holmes and Ted Holmes from the OKC office.
The purchaser, Champion Hotels, owns and operates over 150 properties nationally — 70 of those in Oklahoma — and is the largest private owner of hotels in the U.S.
HotelBrokerOne is a national hotel brokerage and consulting firm that has assisted in over 1,000 hospitality transactions since its inception in 1986. For more information go to www.hotelbrokerone.com.