Hotel Source Closes 6th Wisconsin Dells Transaction
CHICAGO, IL, June 26, 2006. Hotel Source, Inc. closed on the sale of the 124-room Super 8 - Wisconsin Dells, Wisconsin. The hotel was purchased by a private investment group and was previously owned by a regional management firm. Steve Marx and Seth Glickman of Hotel Source, Inc. handled the sale.
The hotel was sold for $2,400,000, which represented an 8.4 capitalization rate and a 2.61 room revenue multiplier. The Super 8 is situated in a highly visible location on Interstate-90/94. The three-story property was built in 1981, with a new lobby being added in 1997.
The Super 8 sale was the sixth successful hotel transaction completed by Hotel Source, Inc. in the Wisconsin Dells market. The Wisconsin Dells is known as "the waterpark capital of the world" and is home to over 130 lodging properties.
Hotel Source, Inc. is a real estate brokerage firm dedicated exclusively to the hotel industry. Founded on the principle of offering personal service while employing the most advanced technologies and competitive strategies to market and sell hotel properties, Hotel Source, Inc. represents clients throughout the United States from its offices in Chicago.
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