HREC Arranges Sale of Clarion on the Lake Hot Springs, Arkansas
DENVER, CO./ WASHINGTON, D.C./ MEMPHIS, TN. August 28, 2017 - HREC Investment Advisors is pleased to announce it has arranged the sale of the 150-guestroom Clarion on the Lake located in Hot Springs, Arkansas. The Buyer was a regional hotel owner/operator.
Kevin Hanley, Senior Vice President in HREC Investment Advisors' Washington D.C. office and Patrick Culligan, Principal in the Memphis office, exclusively represented the seller during the transaction.
“The sale of the Clarion Hot Springs reflects continued investor interest in cash-flowing assets with value - added opportunity. HREC's national platform, combined with local market knowledge, allowed the Seller to realize full value through a comprehensive marketing process,” said Kevin Hanley.
The Clarion Resort on the Lake is located on the shore of Lake Hamilton in Hot Springs, Arkansas. Hot Springs is the tenth-most populous city in Arkansas and the county seat of Garland County. Hot Springs is named for the region's 47 natural springs that discharge approximately one million gallons of water daily at a constant temperature of 143-degrees Fahrenheit. Those springs led to the creation of Hot Springs National Park, which was the first federally protected reserve in the United States, gaining protected status in 1832, 84 years prior to the establishment of the National Park Service.
About HREC®:
HREC® is the nation's leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), and litigation support. With 16 offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital and hotel/casino specialization.
For addition information on the property, please contact:
Kevin Hanley
Senior Vice President
[email protected]
301.370.8736
Patrick Culligan
Principal
[email protected]
901.791.2564
Ashley Hunt
Director of Marketing
[email protected]
303.267.0057
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
