Jones Lang LaSalle Selected to Sell Four CA Hotels
APRIL 30, 2008. On behalf of Ocean Park Hotels, Inc. and their various partners, Jones Lang LaSalle Hotels is pleased to announce the listing of four California hotel properties including the Hilton Garden Inn Monterey, the Courtyard by Marriott Thousand Oaks, the TownePlace Suites by Marriott Thousand Oaks and the Hampton Inn and Suites Camarillo.
The four properties, which represent a total of 532 keys in three well-established California hotel markets, are all fee-simple, being offered unencumbered by management, and affiliated with either the Marriott or Hilton family of brands.
"In addition to the phenomenal location and brand affiliations, the three newly built Southern California properties and the significantly renovated Monterey property offer buyers the ability to invest in superior physical assets," said Jason Jones, a senior vice president for Jones Lang LaSalle Hotels. "Additionally, all have strong cash flows with tremendous upside potential."
"The properties will be marketed as three packages and bids will be taken on that basis by early June," said John Strauss, an executive vice president for Jones Lang LaSalle Hotels. "The barriers to entry for new supply along the central coast of California are among the highest in the country. That, coupled with strong and consistent demand patterns, will make this one of the most sought after hotel opportunities in California in 2008."
For more information, please contact John Strauss at +1 213 680 7954 or Jason Jones at +1 602 625 0964.
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 
