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US Hotel Trades Under US$10m

• Apple REIT Ten acquired the SpringHill Suites Fort Myers for US$9 million. • Vision Hotels paid US$97,500 per room for the 80-room Hampton Inn East Aurora. • The Country Inn & Suites by Carlson Phoenix Airport at Tempe sold for US$4.1 million to Manchester Alliance Group. • More.
By the HNN editorial staff
July 19, 2011 | 3:47 P.M.

Following is a list of U.S. deals with price tags of less than US$10 million. This is not intended to be a comprehensive list. It is the policy of the Hotel Investment Barometer to list only those deals for which buyer, seller and price can be confirmed.

 

Hotel Location Rooms Price Price/room Date Buyer Seller

Shawn A. Turner's take

SpringHill Suites Fort Myers Fort Myers, Florida 106 US$9 million US$84,906 Pending Apple REIT Ten McKibbon Hotel Group Apple REIT Ten has or is acquiring at least 17 properties thus far in 2011, according to STR Analytics.
TownePlace Suites Knoxville Knoxville, Tennessee 98 US$9 million US$91,837 Pending Apple REIT Ten McKibbon Hotel Group McKibbon is involved in at least nine hotel sales this year, according to STR Analytics.
Hampton Inn East Aurora East Aurora, New York 80 US$7.8 million US$97,500 27 May Vision Hotels East Aurora LLC The property's largest meeting room is 625 square feet.
TownePlace Suites Montgomery Montgomery, Alabama 95 US$7.5 million US$78,947 Pending Apple REIT Ten McKibbon Hotel Group McKibbon has more than 60 properties in the southeastern U.S. 
Hampton Inn Birmingham-Colonnade Birmingham, Alabama 133 US$7.1 million US$53,383 25 January Fairwood Capital LLC Turton Properties Fairwood is seeking deals in U.S. university and state capitol markets.
Holiday Inn Atlanta-Gwinnett Place Area Duluth, Georgia 143 US$7 million US$48,951 31 March Summit Hotel Properties InterContinental Hotels Group Downtown Atlanta is 30 minutes from the hotel.
Country Inn & Suites by Carlson Phoenix Airport at Tempe Tempe, Arizona 83 US$4.1 million US$56,626 31 May Manchester Alliance Group Hallmark Inns & Resorts Manchester Alliance Group plabns to operate the hotel as a Country Inn & Suites, according to Paramount Lodging Advisors, which represented Hallmark in the deal.

 

Compiled via STR Analytics and Hotel Investment Barometer Research.