The Mumford Company Announces Sale of 4 Hotel Properties
August 2005, Newport News, Virginia -- The Mumford Company is pleased to announce that it completed the sale of four hotel properties during the month of July 2005. These properties sold in separate transactions represented 509 rooms.
The properties sold during July included the following:
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Hampton Inn of Louisville, Kentucky
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Comfort Inn of Rock Hill, South Carolina
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Ramada Inn of Kingsport, Tennessee
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Village Motor Lodge of Smithfield, North Carolina
In these sales, The Mumford Company represented a diverse group of owners including Equity Inns, two regional multi-property ownership groups and an owner operator.
Ed James, a Principal with The Mumford Company, comments ... "We expect transaction velocity to remain strong through the balance of 2005 as hotel investors take advantage of favorable industry fundamentals and low capital costs. Asset prices remain high and our buyer constituencies are aggressively competitive."
With offices in Atlanta, Chicago, Dallas and Newport News, The Mumford Company is the nations leading broker of mid-market and economy hotels. For more information on the company and its services, please visit our website at www.mumfordcompany.com or contact Ed James at 434-384-8171.
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