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.