Alex White
Atlanta, GA May 14, 2010 - Hotel Assets Group, LLC (Hotel AG), announced today that the firm negotiated the sale of a 143-room independent hotel in Erlanger, Kentucky on behalf of a local banking institution in Elizabethton, Tennessee. The property sold to Sadiq Shaikh for an undisclosed amount.
“This was a challenging assignment in regards to maximizing value due to being a bank-owned hotel,” Alex White, vice president of Hotel AG stated. “We were able to provide our client with a qualified and motivated buyer in the quick time frame needed. This resulted in significant savings for them as they eliminated the carrying costs and were able to remove the asset off their books.” The two-story, 143-room independent hotel formerly operated as a Days Inn. The property is located at the Cincinnati/Northern Kentucky International Airport.About Hotel AG Headquartered in Atlanta, Georgia, Hotel AG is a specialized brokerage firm offering hotel-specific real estate and investment banking within the United States. The company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Today Hotel AG has approximately 96 hotels on the market in 29 states totaling over 11,000 rooms. |
