Hunter Hotel Advisors Represent Owner in Sale of Hyatt Place in Chesapeake, Va

USA, Atlanta, Georgia. December 11, 2018

Hunter Hotel Advisors - the nation's leading investment advisory firm focused exclusively on the hotel industry - announces that the Hyatt Place Chesapeake, VA, was purchased by SAK Developers, a private investment group, from an institutional seller.

Marshall Hotels & Resorts of Salisbury, MD will provide sales & marketing, operations and accounting services to the owner.

David Perrin, Vice President at Hunter Hotel Advisors said: "This hotel is an exceptional model for the Hyatt Place brand, and offers strong historic performance with future rate opportunity. I am pleased to have represented Hunter and our client as we navigated the financial aspects of this sale."

"This is the third of four Hyatt Place properties that Hunter will represent this cycle. The Hyatt Place franchise is highly-sought after, and each location we have represented has had rigorous offer activity and short sale time, similar to 2017 performance. SAK Developers have expanded their portfolio with a strong asset." - Teague Hunter, President, Hunter Hotel Advisors.

The 119-room property opened in 2008, was extensively renovated in 2017, and is distinguished by fresh design, leading-edge technology and convenient guest features. Demand is high for the property due to it's location near the corporate headquarters of Dollar Tree and the Oakbrooke Business & Technology Center, the latest addition to the region's most successful business district.


Hyatt Place, Chesapeake, VA
Hyatt Place, Chesapeake, VA
/ SLIDES

About Hunter Hotel Advisors

Media Contact:

Cece Loft
Marketing Director
Hunter Hotel Advisors
T: 770-916-0300
E: cece.loft@hunterhotels.net
W: http://www.hunterhotels.net

Subscribe to our newsletter
for more Hotel Newswire articles

Related News

Choose a Social Network!

The social network you are looking for is not available.

Close
Coming up in August 2019...

Food & Beverage: Millennial Chefs Lead the Way

Led by Millennial chefs, hotels continue to foster sustainability, sourcing and wellness within their dining rooms and banquet spaces, and by all measures, this is responsible for an increase in their revenues. In many hotels, the food & beverage division contributes 50 per cent or more to hotel sales and they are currently experiencing double-digit growth. As a result, hotel owners are allocating an increasing amount of square footage for F&B operations. The biggest area of investment is in catering, which is thriving due to weddings, social events and business conferences. Hotels are also investing in on-site market or convenience stores that offer fresh/refrigerated foods, and buffet concepts also continue to expand. Other popular food trends include a rise of fermented offerings such as kombucha, kimchi, sauerkraut, tempeh, kefir and pickles - all to produce the least processed food possible, and to boost probiotics to improve the immune system. Tea is also enjoying something of a renaissance. More people are thinking of tea with the same reverence as coffee due to its many varieties, applications and benefits. Craft tea blending, nitro tea on tap and even tea cocktails are beginning to appear on some hotel menus. Another trend concerns creating a unique, individualized and memorable experience for guests. This could be a small consumable item that is specific to a property or event, such as house-made snack mixes, gourmet popcorn, macaroons, or jars of house-made jams, chutneys, and mustards -all produced and customized in house. One staple that is in decline is the in-room minibar which seems to have fallen out of favor. The August issue of the Hotel Business Review will document the trends and challenges in the food and beverage sector, and report on what some leading hotels are doing to enhance this area of their business.