OKLAHOMA CITY, OK – HotelBrokerOne
(HB1) is pleased to announce the successful sale of the Studio Inn OKC Airport,
a 78-room All Suites hotel located near Will Rogers World Airport. The
property, sold in a lender-forced short sale, is strategically located in the
airport market’s high demand corridor. The zone services an assortment of
clientele from the area’s various demand generators including the airport,
Oklahoma State Fairgrounds, OSU’s Oklahoma City campus and a wide mix of
business and leisure travelers flowing through the
interstate/airport/university crossroads.
The buyer, a local hospitality
investor with other hotels in the airport market, plans an extensive renovation
and upgrade to the hotel through capital improvements, a complete operational
overhaul and rebranding to HomeAway Suites.
Peter Holmes of HB1’s Oklahoma City
office facilitated the sale working in concert with the lender, seller and
buyer to accomplish the end goal of disposition of the asset. “This sale
underscores the strong appeal of any extended stay property regardless of tier
and reiterates the inherent strength in airport corridors.” said Holmes.
“Properties near major travel centers, such as airports, continue to attract
investors seeking opportunities to reposition and improve underperforming
assets even in an uneven economic climate”.
For more information about
HotelBrokerOne and its recent transactions, visit www.hotelbrokerone.com.