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OKLAHOMA CITY – The recent purchase of the Tower Hotel on Northwest Expressway is a win-win for Oklahoma City, giving new life to a city landmark and bringing Oklahoma City a new Embassy Suites hotel.
HotelBrokerOne, along with NAI Global, brokered the deal. A local ownership group led by Champ Patel plans to convert the 354-room Tower Hotel, formerly a full-service Marriott until 2013, into a 215-room Embassy Suites within the next year.
Plans include not only converting the property to a two-room suite layout, but also constructing an additional 95-room limited service property adjacent to the hotel in a space that is now parking — an area that will no longer be needed due to the reduced room count.
Ho...
Stanton, TX – HotelBrokerOne recently completed the sale of the hotel formerly known as the Cobblestone Inn, located in Stanton, TX. The hotel is 54 units and has been closed for over a year. The hotel was sold to a Texas hospitality investment company, Shiv Gange III.
The Hotel, constructed in 2014, is in excellent condition and will reopen within the month. The recent increase of activity in the Permian Basin led to a quick sale. Ted Holmes, VP of HotelBrokerOne, said “The new owners have a good track record of hotel operations and providing excellent guest services and I believe this will be very beneficial for Stanton and the surrounding areas.”
HotelBrokerOne is a national hotel brokerage firm that has sold ov...
Wichita, KS – HotelBrokerOne, in conjunction with Gallegos & Associates, Inc., sold a popular hotel located near Towne East Mall. This 97 room, 6 story hotel was purchased by a California based private investor for $3,235,000.
The Garden Inn and Suites, formerly LaQuinta, was constructed in 1973, and is being converted to Red Roof Inn Plus. Buyers are planning extensive renovations to the hotel together with an intensive staff training program to improve investment returns for years to come.
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Dallas, TX – HotelBrokerOne, in conjunction with Sunbelt Hotel Brokers, sold a popular hotel located in the University area of Tyler, TX. The 73 room, 3-story hotel on SE Loop 323 was purchased by a California based private investor at an undisclosed price.
The LaQuinta, constructed in late 2014, required very little franchise upgrades and will continue operations as a LaQuinta Inn & Suites. However, the buyers are planning improvements to the hotel together with an intensive staff training program to improve investment returns for years to come.
“There was significant interest in ...
Prescott, AZ – HotelBrokerOne recently sold the lovely Comfort Inn located in Prescott, Arizona. The hotel was rebranded, upon sale, as a Days Inn with the Buyer planning significant improvements and renovations to follow.
The sixty-one unit property located in the beautiful scenic pines area of Prescott, was sold to a southern California investor with many years of hotel experience. HotelBrokerOne Phoenix office handled the transaction.
“There was significant interest in this property from both Arizona and out of state Buyers because of the attractiveness, its excellent location, the Prescott market and the realistic pricing o...
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