Moody National REIT I, Inc. Completes Disposition of TownePlace Suites Newark, CA for $24,500,000
HOUSTON, TX. September 17, 2015 - Moody National REIT I, Inc. ("REIT I") announced today the completed disposition of the TownePlace Suites Hotel in Newark, California, for a final sale price of $24,500,000.
Net sales proceeds from the transaction equaled approximately $17,450,000, providing an approximately 250% equity return to REIT I.
REIT I originally acquired the hotel in June 2014. Moody National Hospitality Management Company managed the asset while also completing a $1.4M property renovation. During the holding period, Revenue per Available Room ("RevPAR") increased 28.5%.
The TownePlace Suites Newark is positioned on the edge of the Silicon Valley in the San Francisco Bay area of Northern California. The area is home to many of the world's most innovative corporations, including Google, Apple, TESLA, and Facebook, as well as an array of startup companies.
About Moody National REIT I, Inc.
Moody National REIT I, Inc. is a real estate investment trust that owns select-service hotels in major markets across the United States. The REIT is sponsored by Moody REIT Sponsor, LLC, an affiliate of the Moody National Companies, which is a full-service commercial real estate company inclusive of mortgage, development, realty and title divisions. Founded in 1996, Moody National Companies has managed over $2B in commercial real estate.
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 
