O'Connell Hospitality Group Expands Beyond New England
BOSTON, MA, October 4, 2005. O'Connell Hospitality Group, LLC continued its impressive 2005 performance by closing out the third quarter with three more hotel transactions in Manhattan, Saratoga Springs, NY and Pittsburgh, PA.
OHG's Senior Managing Director, Thomas Foley facilitated all three sales by representing the owners of the newly constructed Holiday Inn Express on 45th Street in Manhattan. James O'Connell, Principal of OHG introduced the Buyers to the $36,500,000 transaction. This is believed to be the highest price paid for a hotel property in the limited service segment. OHG represented the Owners of the Hilton Garden Inn, Saratoga Springs, NY and introduced the Buyers that completed the $17,750,000 transaction. Earlier in the month, OHG represented the Owners of the Residence Inn, Pittsburgh, PA and introduced the Buyer to the $11,500,000 transaction.
"We expect to complete transactions on hotels located in Florida, Massachusetts, Michigan and Texas before year end," said Jim O'Connell, Principal of O'Connell Hospitality Group, LLC.
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