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Junction City Hotel sold with major rebranding

Thursday May 11, 2017

Junction City, KS – HotelBrokerOne recently sold the Holiday Inn Express located on Interstate 70 in Junction City, Kansas. The hotel is a 60 unit property that was sold with an expiring Holiday Inn Express franchise for an undisclosed price to Shree Bholenath Real Estate, LLC.

The hotel is no longer a Holiday Inn Express effective May 1; however, the new ownership has reached an agreement with Choice Hotels to convert the hotel to a Comfort Inn. While the hotel is undergoing major upgrades to the hotel, it will continue to operate independently with an expectation of full branding as a Comfort Inn in the fall/winter of 2017. There will be no significant effect to travelers during the renovation period.

“The sale of the property and conversion to Comfort Inn will allow the hotel to remain a top market performer and provide some of the nicest amenities for the long term. The hotel was in nee...

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HotelBrokerOne sells Best Western Plus Otay Valley

Monday March 27, 2017

HotelBrokerOne (HB1) is pleased to announce the sale of Best Western Plus Otay Valley, located in Chula Vista, California. The three story, exterior corridor property offers proximity to Tijuana, Mexico and San Diego's downtown providing a perfect location for corporate and leisure travelers. The property was sold via an off-market transaction from Pacifica Host Hotels to a California based hotel ownership group. The parties were represented by Leigh-Anne Ashton, Bruce Holmes and Harry Hashim.

The 118-room hotel sold for an undisclosed amount and included the assumption of the current CMBS loan. The hotel will retain the Best Western franchise and significant capital will be deployed for renovations. The buyer has assumed management of the hotel operations. The hotel will be their third Chula Vista property.

Mrs. Ashton was quoted saying, "We are thrilled to once again work with these two entiti...

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HotelBrokerOne sells La Quinta Kansas City Airport

Tuesday January 31, 2017

Kansas City, MO – The La Quinta Inn & Suites Kansas City Airport has been successfully listed, marketed, and sold by HotelBrokerOne. The hotel was listed for less than seven days prior to HB1 obtaining multiple acceptable offers, with total transaction time being just over ninety days from start to finish. The hotel will undergo a significant renovation and remain a La Quinta Inn & Suites. The La Quinta was the second hotel acquired by the purchaser in as many months in the Kansas City Airport area.

Peter Holmes, Chief Operating Officer of HotelBrokerOne stated “This acquisition, along with the stakeholder’s previous acquisition of the Best Western Plus KCI, represented a substantial investment by the purchaser within the KCI market.” Holmes went on to say “While each hotel was successful currently, the anticipated, long term renovation of the infrastructure at the Kansas City Airport was a signifi...

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HotelBrokerOne sells Holiday Inn Express with future rebrand

Monday January 30, 2017

Dallas, TX – HotelBrokerOne recently sold a popular hotel located in Addison, TX, a part of the Dallas metroplex. The 102 room Holiday Inn Express, located just off of Beltline, sold to a Frisco, TX based investment group at an undisclosed price. HotelBrokerOne represented an Oklahoma City and Dallas based ownership group.

The Holiday Inn Express will retain the franchise until spring of 2017, when it will convert to another brand. Significant improvements are planned in anticipation of the brand change and renovation will begin in the fall. Renovation costs are believed to exceed two million dollars and will ensure that the hotel remains a competitive property for years to come.

“There was significant interest in the Express from buyers and investors all over the southern states and Texas," said Dallas Managing Director Joe Strain, ISHC of HotelBrokerOne. “The interest was certainly u...

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Batesville hotels sold with upgrades in store for future

Friday January 13, 2017

Batesville, AR – HotelBrokerOne recently sold of a portfolio of two hotels located in Batesville, Arkansas. The sale included the 65 room Holiday Inn Express and the 123 room Ramada Inn.

The two hotels will retain the same franchise status, while undergoing significant improvements to both of the properties. The Holiday Inn Express is expected to have a million dollars’ worth of renovation.

“The Express was relicensed under the condition of meeting Holiday Inn Express’ new Formula Blue standards, which will continue to make it the premiere hotel in Batesville, and one of the nicest in Northeast Arkansas after renovation”, said Vice President Ted Holmes of HotelBrokerOne.

The sale represents 2 of the 5 hotels located in the Batesville market, and should bring travelers upgraded accommodations at both properties.

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