Neptune Hospitality Advisors Arranges Sale of Crowne Plaza Hotel
SAN DIEGO, CA, January 7, 2009 - Neptune Hospitality Advisors today announced it arranged the December sale of the 320-room Crowne Plaza Hotel located in Grand Rapids, Michigan. The hotel was sold by Sunstone Hotel Investors. The buyer is a San Diego-based private hotel company.
"This transaction provided us with a number of challenges that we were able to successfully work through. Sunstone needed a year end closing, and we were able to identify the ideal purchaser who worked through some complicated issues in a 30 day closing period, and the deal closed prior to year end," said Mike Armstrong, Neptune's president. Jason Clouet and Patrick Bajdek, Neptune managing directors, assisted in the transaction.
Neptune Hospitality Advisors is a real estate capital advisory firm dedicated to the hotel industry. Headquartered in San Diego, and with an office in Dallas, Texas, Neptune provides a full spectrum of capital advisory services including property sales, mortgage brokerage, joint venture capital raising, and asset advisory services. Working with a wide variety of hotel owners, investors and capital sources, Neptune has completed hotel and resort transactions across the United States and Mexico.
For more information, contact Michael D. Armstrong at mike@neptuneha.com 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 
