Jones Lang LaSalle Advises on a Nine-Property Hampton Inn Portfolio
ATLANTA, GA, January 11, 2006. Jones Lang LaSalle Hotels Select Service Division announced today that they advised Mercury Investment in the disposition of a portfolio of nine Hampton Inn Hotels in the month of December. The hotels were sold to Encore Enterprises for $100 Million. Located in various markets across the country, the properties comprised 1,238 rooms, which included the following assets:
Hampton Inn Buckhead Atlanta, GA
Hampton Inn Atlanta Airport Atlanta, GA
Hampton Inn Cumberland Mall Atlanta, GA
Hampton Inn Newark Airport Newark, NJ
Hampton Inn Philadelphia King of Prussia, PA
Hampton Inn Raleigh North Raleigh, NC
Hampton Inn San Antonio Six Flags San Antonio, TX
Hampton Inn Meadowlands Secaucus, NJ
Hampton Inn Tampa Airport Tampa, FL
"We are very pleased with the nine-property Hampton Inn portfolio sale. This transaction represents the very essence of Select Service hotel real estate today where brand, box and locale are the core value creation factors. These were very desirable assets in the Hampton Inn system and five of the nine were non-replaceable. This represents a large transaction for the purchaser, Encore Enterprises of Gulfport, Mississippi, and a timely disposition for the seller," said Keith Thompson, one of three managing directors for Jones Lang LaSalle Hotels' Select Service Division. "Although the average sales price per room was $81,000 on the portfolio as a whole, the per property allocation represented below replacement cost for several of the properties while exceeding replacement cost for the non-replaceable assets. The purchaser anticipates strong accretive value through per-property focused management and increased sales through their unique marketing abilities."
"The sale was a strategic disposition by the seller allowing them to reallocate capital for other non-hotel acquisition opportunities," said Chris Dewey, vice president for Jones Lang LaSalle Hotels' Select Service Division.
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 
