Paramount Lodging Advisors (PLA) Sells Texas Fairfield Inn & Suites
Paramount Lodging Advisors (PLA) has successfully executed the
transaction of the Fairfield Inn & Suites in Beaumont, TX. Managing
Director Kami Burnette and Managing Director Adam Montufar represented
the seller in the transaction.
The 74-room upper-midscale hotel was ideally located on Interstate 10
in Beaumont. The buyer was looking to capitalize on increasing revenues
generated from the oil-driven market and substantially supplement the
cash flow of their existing hotel portfolio.
“Post Hurricane Harvey, the increasing commodities pricing is
stabilizing the region and have presented an opportunity for the new
owner to realize a strong yield on their asset,” stated Kami Burnette.
PLA Texas' office is continuing to grow with this transaction marking
the seventh successful transaction in the last twelve months.
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 
