Optimum Sells Best Western Colonial to Regional Operator

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. October 14, 2008

FAIRFIELD, CT, Ocotber 5, 2006. Optimum Hotel Brokerage announced today that the firm has closed on the sale of the Best Western Colonial. The 120-room hotel is located in East Windsor, Connecticut and occupies a prominent location on Interstate 91 near Hartford's Bradley International Airport. Joe McCann, president of Philadelphia-based Optimum Hotel Brokerage represented the seller in the transaction. The full service hotel was purchased by a New England-based multi-unit owner and operator. The hotel sits on more than 5 acres and features an outdoor courtyard pool, restaurant, lounge, and more than 7,000 square feet of quality ballroom and conference space.

'The Best Western Colonial's superb location interstate and airport location and extensive meeting and banquet space made the asset attractive to full service owners and operators' explained McCann. 'The Best Western Colonial will give its new owners excellent opportunities to crate value through more capture of local corporate, group and social catering business.' The new owners have already embarked on an extensive rooms renovation program.

Philadelphia, Pennsylvania-based Optimum Hotel Brokerage is a full service hotel brokerage firm. The firm's recent sales include the 1,639-room Palmer House Hilton in Chicago; the 75-unit Comfort Inn & Suites Brandywine Valley in West Chester, Pennsylvania; the 153-room Days Inn Rochester Airport in Rochester, New York; the 197-room Southbury Hilton in Southbury, Connecticut; the 150-unit Best Western Lawton in Lawton, Oklahoma; the 161-unit Holiday Inn Express Waterbury in Waterbury, Connecticut; the 100-room Days Inn in Niantic, Connecticut, the 153-unit Days Hotel in Rochester, New York, the 304-room Crowne Plaza Meadowlands in Secaucus, New Jersey and the 350-room Crowne Plaza Hartford in Hartford, Connecticut. Optimum Hotel Brokerage expanded its operations and opened their Philadelphia headquarters office in November 2005.

Optimum Hotel Brokerage is also a member of Hotel Brokers International, the world's largest and oldest hospitality real estate organization, which has a rich heritage of experience and expertise in hotel real estate valuation, transactions and other essential services. Comprised of some 75 hotel real estate broker specialists, HBI provides the hospitality industry with the most powerful hotel real estate marketing force, creating greater visibility through a unified and inclusive advertising and marketing approach. Mr. McCann has earned the designation of Certified Hotel Broker, with distinction, from the organization, and was recognized as HBI's Broker of the Year for the Northeast Region in 2003 and 2004. HBI has also awarded McCann with the Portfolio Sale of the Year award in 2004 and Unique Deal of the Year award in 2004 and 2005. Most recently, Optimum Hotel Brokerage and Joe McCann were awarded HBI's prestigious Broker of the Year Award for 2005.