Neptune Hospitality Advisors Arranges Sale of Hilton Garden Inn of Rancho Mirage, CA
SAN DIEGO, CA, May 21, 2007. Neptune Hospitality Advisors, a leading hotel capital advisory firm, today announced it has arranged the sale of the 120-room Hilton Garden Inn in Rancho Mirage, Calif. The buyer is Hansji Hotels, Inc., a California-based owner and operator. The seller, American Property Management Corporation, originally acquired the hotel in late 2004. The sale price was not disclosed.
The Hilton Garden Inn Rancho Mirage is located next to The River at Rancho Mirage, a popular entertainment and shopping complex. The hotel is just minutes away from upscale shopping at El Paseo Drive, as well as more than 115 golf courses in the Palm Springs area.
"This sale represents a true win/win for both buyer and seller," said Mike Armstrong, president of Neptune Hospitality Advisors. "With our assistance, American Property Management Corporation was able to sell within a two-and-a-half year hold period at a price that met their investment objectives, while Hansji Hotels has acquired an irreplaceable asset in the thriving Rancho Mirage entertainment district at a price well below replacement cost."
Neptune managing directors Jason Clouet and Patrick Bajdek assisted in the marketing and sale of the transaction.
Founded in 2001, Neptune Hospitality Advisors is a real estate capital advisory firm dedicated to the hotel industry. As a boutique, San Diego-based firm, Neptune provides a full spectrum of capital advisory services including mortgage brokerage, joint venture capital raising, property sales and asset advisory services to the hospitality industry. Working with a wide variety of hotel owners and capital sources, Neptune has completed hotel and resort transactions across the United States and Mexico.
For more information, contact Michael D. Armstrong at [email protected] or visit the company website at www.neptuneha.com.
Neptune Hospitality Advisors, Inc.
The Aventine Building
8910 University Center Lane, Suite 420
San Diego, CA 92122
P. (858) 964-5670
F. (858) 964-5679
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 
