Paramount Advises Homecourt on Disposition to Apple REIT
JULY 7, 2008. Paramount Lodging Advisors is pleased to announce the portfolio sale of 6 hotels (613 total keys) to Apple REIT. ParamountTM Principal members Josh Williams and Joe Ross advised the seller Homecourt Hospitality on this transaction.
The portfolio was recently acquired by Apple REIT during the second quarter of 2008, as part of their Apple 8 Lodging portfolio. This is the final portion of a 7-hotel portfolio Apple has acquired from Homecourt Hospitality. McKibbon Hotels has been selected to manage the entire portfolio for Apple.
"It was a pleasure working with Homecourt Hospitality and Apple REIT Companies on this transaction" said Joe Ross, Principal, Paramount Lodging Advisors. "The overall portfolio given its average age, product improvements and stable markets should prove to be a great addition to an already impressive portfolio of hotels within Apple REIT Companies.
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 
