Jones Lang LaSalle Announces Sale of Motel 6 Portfolio in Ohio
DECEMBER 9, 2008. On behalf of Accor North America, Jones Lang LaSalle Hotels' Select Service division is pleased to announce the sale of three Motel 6 properties, totalling 299 rooms in Ohio to a new Motel 6 Franchisee. The buyer purchased the 75-room Motel 6 Cincinnati-Norwood, 103-room Motel 6 Columbus-Worthington, and the 121-room Motel 6 Cleveland-Macedonia for an undisclosed sum.
Motel 6 franchise will remain for all three properties. These assets are ideally located off major Ohio interstates.
"This was a strategic opportunity for the buyer to purchase three assets with a great brand in place, and have the opportunity to capitalize on the tremendous potential to increase both the top and bottom lines," said Chris Dewey, a vice president for Jones Lang LaSalle Hotels.
"The deal closed in just 62 days, aggressive timing in today's trading environment," said Doug Rawson, a vice president for Jones Lang LaSalle Hotels.
This portfolio represents three of five assets that Jones Lang LaSalle Hotels has sold for Accor North America this year.
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