WHI Selected to Advise in Sale of Cambridge Suites in Wichita
KANSAS CITY, MO, September 10, 2009 - Warmbrodt Hotel Investments, Inc. ("WHI") announced today it has been selected to advise in the disposition of the Cambridge Suites located in Wichita, Kansas.
The Cambridge Suites is an excellent acquisition opportunity for a local or regional owner looking to purchase an asset with excellent upside potential for continued growing revenues. The subject hotel witnessed a significant gain in net operating income for the year ended 2008 and is currently penetrating the competitive set at a very healthy rate of 104.3%. The trends are impressive considering the current property condition, which ultimately makes the Cambridge Suites property an even more attractive opportunity.
The 88-Suite, extended stay hotel is comprised of eleven (11) exterior corridor buildings. Seven of the buildings, housing 64 suites, were originally constructed in 1976 and composed the first Residence Inn, that eventually grew into a major and first extended stay brand in the United States. The additional three buildings, containing 24 suites were constructed in 2001. In addition, the Property contains the Gatehouse building that contains a guest lobby, guest laundry, management and sales office area, breakfast area, prep area, fitness center, laundry storage area and vending area.
The downtown location is within close proximity to the new 15,000 seat Intrust Bank Arena, WaterWalk, Century II Convention Center, Old Town Entertainment District and major employers including Boeing, Bombardier, Cessna, Coleman, Koch Industries, McConnell Air Force Base, Raytheon, Intrust Bank, Plasticfab, BG Products, Flight Safety and McCormick Armstrong. Wichita Mid-Continent Airport is approximately 5 miles west of the property.
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 
