Hotel Deals Heat Up For Leisure Real Estate Advisors
Leisure Real Estate Advisors announce over $30 Million in sales
LEAWOOD, KS, July 11, 2005. The sale of hotel assets within the midwest and nationally continue at a very active pace. Since the tragedy and terror of 9/11, the hospitality travel industry has steadily reclaimed lost business to generate record revenues in 2004. Industry pundits predict continued occupancy, rate and revenue growth through 2007. The revival of business and transient travel, as well as record low interest rates, has fueled a lively climate of deal making.
Leisure Real Estate Advisors, LLC based in Leawood specializes in the sale of hotel real estate. Formed in 1998, Leisure Real Estate Advisors has grown to become one of the leaders in hotel brokerage, regionally and nationally. Within the past six months Leisure Real Estate Advisors has brokered over $30 Million in regional and local hotel assets. "We have been very pleased with the growth of our sales revenue," says Brent Jaynes, Director of Brokerage Services. We have added two key experienced senior brokers who have dramatically contributed to our growth. Given our success, we have definite plans to continue our expansion by adding quality, experienced people".
Of the recent closings, several of the most noteworthy included a two-property Country Inn and Suites portfolio, located in Lincoln, NE and Salina, KS. The listing price was $11 million and was brokered by Rick Hagerman, Senior Investment Broker in the Leawood office. Other recent local sales include the Holiday Inn Express, Lee's Summit, Missouri, the Hampton Inn in Topeka, Kansas, the Holiday Inn Express, Beatrice, Nebraska and the Days Inn, McCook, Nebraska, the latter being sold by Michael Works, Senior Associate, in the Lincoln, NE office. "We are very optimistic about the future, comments Jaynes. Although hotels are often thought to be somewhat volatile, they also represent an operating business with a significant real estate component, a business model that will always attract investment.
Going forward, we plan to play a major role in helping owners and investors".
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