Holiday Inn Columbia Sold
Price per room more than $65,000 per room
July 26, 2011 - Optimum Hotel Brokerage announced today that the firm has closed on the sale of the Holiday Inn Columbia, a 176-unit full service hotel in Columbia, Maryland. Joseph R. McCann, Optimum's president, was the exclusive hotel broker and Licensed Maryland Real Estate Broker representing the seller, Columbia Motel Associates.
“Located on seven acres at a busy Interstate 95 exit between Baltimore and Washington, the Holiday Inn Columbia has been a fixture in the market for more than 37 years”, said McCann. “I was privileged to work with legendary hotelier Julian Savage, who has developed more than 40 classic Holiday Inn hotels in the mid-Atlantic market” In addition to the hotel's 176 guest rooms, the hotel features more than 5,500 square feet of ballroom facilities and a full service restaurant and lounge. The buyer, DC North LLC, is planning a complete renovation of the guest rooms and public space.
Optimum Hotel Brokerage is also a member and Joe McCann is president of Hotel Brokers International, the world's largest and oldest hospitality real estate organization, which has a rich heritage of experience and expertise in hotel real estate valuation, transactions and other essential services. Comprised of some 50 hotel real estate broker specialist s, HBI provides the hospitality industry with its most powerful hotel real estate marketing force, creating greater visibility through a unified and inclusive advertising and marketing approach. Mr. McCann has earned the designation of Certified Hotel Broker, with distinction, from the organization, and was recognized as HBI's Broker of the Year for the Northeast Region for many years. HBI has also awarded McCann with the Portfolio Sale of the Year, and Unique Deal of the Year. Optimum Hotel Brokerage and Joe McCann was awarded HBI's prestigious Broker of the Year Award in 2006. Optimum Hotel Brokerage is also a provider of expert witness testimony in hotel bankruptcy, distressed hotel litigation, franchising, and hotel operations.
Mr. McCann is president of the Penn State Hotel and Restaurant Society, representing the more than 5,000 alumni of Penn State's renowned School of Hospitality Management. Optimum Hotel Brokerage has endowed scholarships at the school to provide financial assistance to students demonstrating financial need at the school.
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