Hotel Source Sells Midwest Hotels
August 26, 2011 - Hotel Source, Inc. announced today that the firm completed four hotel transactions in the 2nd quarter of 2011. The sold assets were located in Wisconsin and Illinois. Seth Glickman and Steve Marx of Hotel Source, Inc. handled the sales.
Days Inn - Black River Falls , WI. This 84-room, limited-service hotel was purchased by a private investor. The hotel was sold at a 2.5 Room Revenue Multiplier and was achieving approximately 38% occupancy and had a $61.06 ADR at the time of sale. Built in 1989 & 1996, the property benefits from an excellent location along Interstate-94.
Best Western Grand Seasons - Waupaca, WI. This 90-room, select-service hotel was purchased by Batra Hospitality Group, Inc. and was previously owned by Grand Seasons, Inc. The hotel was sold at a 4.1% capitalization rate and was achieving approximately 55% occupancy at the time of sale. Built in 1988 & 1993, the property contains approximately 10,000 sq. ft. of meeting space, a large leased fitness facility, lounge and indoor waterpark. The hotel will receive minor upgrades from the new owners.
Days Inn - Eagle River, WI. This 92-room, limited-service hotel was purchased by a private operator from the original owner and developer. The hotel was sold at a 2.6 Room Revenue Multiplier and was achieving approximately 31% occupancy and had a $74.29 ADR at the time of sale. Built in 1989 & 1995, the property contains an indoor swimming pool, hot tub and sauna.
Stratford Inn - Sycamore, IL. This full-service hotel was purchased by a private operator from Plank Road, LLC. The hotel was sold at a 2.9 Room Revenue Multiplier. The historic boutique hotel was built in 1926 and contains a restaurant, lounge and ballroom. The new owner plans to complete extensive renovations to the property. Sycamore, Illinois is located 65 miles west of Chicago and is easily accessed by Interstate-88. Local Nestle, Target and 3M distribution centers as well as the close proximity to Northern Illinois University help support the surrounding communities.
Hotel Source, Inc. is a hotel real estate brokerage and advisory services firm that leverages its transactional expertise and experience as a hotel owner and receiver to create responsive solutions to the challenges of buying, owning and selling hotels.
For further information, contact Seth Glickman or Steve Marx at 312 362 0624. www.HotelSource.com
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 
