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