Jones Lang LaSalle Arranges Sale of Three Hotels
AUGUST 19, 2009 - Jones Lang LaSalle Hotels' select service division announced today the closing of three U.S. hotel assets on behalf of its clients JER and Accor.
Jones Lang LaSalle Hotels arranged the following: On behalf of Accor, the 109-room Motel 6 Jacksonville, Florida to Rick Patel and the 145-room Motel 6 in Atlanta, Georgia was sold to Mohammad Yaqoob. On behalf of JER, Jones Lang LaSalle Hotels arranged the sale of the 121-room Signature Inn to Landmark Hospitality.
"Investor interest remains steady in the select service market as financing is available for hotels trading at $15 million and below," said Al Calhoun, a managing director for Jones Lang LaSalle Hotels' select service division.
"The high level of interest we received on these assets was due to the ability to find debt at these pricing levels," said Chris Dewey, a vice president for Jones Lang LaSalle Hotels.
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 
