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.