Sold Properties

Best Western Campbellsville, KY

60 rooms sold for $2,025.000

Press Release January 2, 2013, 1:17 pm $2,250,000 Fee Interest Highway/Interstate

Number of Rooms

60
Property Description

This Best Western is in excellent condition with many renovations the last three years, a BW Directors Award winner, 960 out of 1,000 in March 2012 – Means no additional capital outlay after purchase which maximizes your return on investment.

Rated #1 in Customer Service Care in Best Western’s District III – Means friendly staff and quality accommodations that you acquire are the best.

Room revenue in 2010 up 19% over 2009 - Means strong base to build upon to return to the record revenues of $840,000 for maximized profits and yet a very financeable transaction today.

Great asset, great staff, great trends – Means new owner need only increase marketing to maximize revenues.

About Huff, Niehaus & Associates, Inc.

H. Brandt Niehaus is President of Huff, Niehaus & Associates, Inc., a Louisville, Kentucky-headquartered real estate brokerage and advisory firm specializing in the unique aspects of hotel real estate investment. Actively involved in real estate brokerage since 1983, Mr. Niehaus services hospitality industry transactions ranging from single asset investment sales to strategic portfolio dispositions and acquisition as well as lender-owned transactions for banks and institutions.

Niehaus is a two-time president of Hotel Brokers International and has served 13 years on the organization’s Board of Directors. Niehaus is a seven-time recipient of the Outstanding Regional Broker of the Year as presented by the Hotel Brokers International, and is a proud recipient of the prestigious Noah L. Canfield Distinguished Service Award. Niehaus is a Certified Hotel Broker (CHB), and Certified Commercial Investment Member (CCIM). Niehaus holds a BBA and MBA from the University of Kentucky. Niehaus may be reached at (502) 254-7787 or online at www.huffniehaus.com.

Michael R. Faridi joined Huff, Niehaus & Associated, Inc. in 1993 and has been involved with the hotel industry since 1977. Faridi has extensive background and expertise in the hotel industry, in commercial- investment real estate and franchised restaurant site selection. He is a graduate of Harrah’s College of Hotel Administration at the University of Nevada, Las Vegas and The Institute of Hotel Management, Bombay. In the past, he has been a General Manager for two hotel companies and has held other management positions. He has operated hotel management companies and served on Hotel College faculty staff. He has been affiliated with Accor Hotels, Choice Hotels, Hyatt Regency Hotels, Meadowood Resort Hotel and MGM Grand Resorts. Feasibility studies, valuations, franchise selection, financing assistance and management company assistance for hotel projects like Holiday Inn Hotels, Hampton Inns, Hilton Garden Inn, Ramada, Carlson Hotels, Best Western, Choice Hotels, Accor Hotels, Wyndham Hotels Group and various independent and boutique hotel properties. Additionally, he has worked on commercial investment projects including restaurant franchise companies, shopping centers, apartments, income properties and Oil Company operations i.e. Marathon, Shell, BP and Gulf Oil.

For more information contact:

H. Niehaus, CHB, CHA, CCIM

Phone: 502.254.7787

Fax: 502.254.5270

Email: brandt@huffniehaus.com

Best Western Envoy Louisville, KY

101 rooms, 5 stories

Ramada Inn Elkhart, IN

145 Rooms    $4,100,000

Motel 6 Sharonville, OH

122 Rooms    $1,600,000

  Quality Inn Northeast Cincinnati, OH

    97 Rooms    $2,850,000

  Best Western General Nelson, Bardstown, KY

52 Rooms $1,400,000

  Residence Inn Toledo/Holland, OH

96 Rooms    $5,750,000

  Hampton Inn East Indianapolis, IN

123 Rooms $7,500,000

  Motel 6 Dayton, OH

97 Rooms $1,800,000

   Ex-Days Inn Athens, OH

60 Rooms   $680,000

   Ex-Days Inn Wapakonata, OH

60 Rooms $559,000

http://www.huffniehaus.com/
Huff, Niehaus & Associates, Inc.

For more information, visit HBI on the World Wide Web at http://www.hotelbrokersinternational.com.

Location

Sheraton Cincinnati North, Cincinnati, OH

Huff, Niehaus & Associates, Inc. announced the sale of the Sheraton Cincinnati North Hotel, Comfort Inn and 3.1 acres of land in Sharonville/Cincinnati, Ohio for a total price of $27,300,000. The buyer was WHP Cincinnati, LLC based in Milwaukee, WI. Two sellers were involved. RCHP Two, LLC owned the 259 room Sheraton Hotel and Chester Hospitality, Inc. owned the 120 room Comfort Inn and extra land.

Brandt Niehaus, CHB, President of Huff, Niehaus in Louisville, Kentucky was the dual agent that put the transaction together. Dale Peach of Peach Realty had the land listed. The buyer was introduced to Niehaus by Jeff Westgor, CHB, President of Westgor & Associates, Inc. in Minneapolis, MN. Niehaus and Westgor are members of Hotel Brokers International, the world’s pre-eminent hotel organization annually accounting for the largest market share of hotels sold in the U. S.

“It has been a pleasant and very professional experience working with Brandt Niehaus and his team. He did well by all of us,” said Wil Schwartz of RCHP Two, LLC. “It was not our intention to sell, but Brandt made it work to everyone’s advantage.”

The $27.3 million deal allowed WHP Cincinnati to acquire 379 rooms on 13+/- acres for $72,300 per key. The Sheraton Hotel sold for $90,734 per room. RCHP Two had just completed a $15 million total renovation to enter the Sheraton/Starwood system in February of this year. The Comfort will undergo a complete renovation and be reflagged. WHP intends to build a water park between the properties and possibly add more rooms.

Holiday Inn, Holyoke, MA

Huff, Niehaus & Associates, Inc. announced that the firm closed on the sale of the 213 room Holiday Inn Holyoke in Holyoke, MA. H. Brandt Niehaus, President of Huff, Niehaus represented the seller, GNS Holyoke Real Estate, LLC, in the transaction.

The buyer, 66 Holyoke, LLC, has plans for a $2.5M renovation of the 1973 and 1988 built Holiday Inn. The renovations will include a new theme restaurant and lounge, upgrade bathrooms and guest rooms. The $9,750,000 purchase price and total renovation brings it to an all in cost of less than $47,500 per room. This represented the 10th sale for Huff, Niehaus in 2006.

Holiday Inn Express & Suites, Kinder, LA

The 139 unit Holiday Inn Express & Suites , located in Kinder, LA. has been sold for $6.9M. The Seller, represented by Huff, Niehaus & Associates, was a Kentucky investment group. Select Hotel Brokers brought the Buyer to the transaction.

Microtel Inn & Suites, Indianapolis, IN

The fifth and final motel for Economy Hotels, LLC, A Kentucky based motel development and operating holding company. The 76 room Microtel Inn & Suites sold for $2,100,000 or $27,632 per room. “This was the fifth Microtel we sold and represented for Economy Hotels”, said Niehaus. “All the properties remained in the Microtel system. The entire portfolio had a real estate value of $11.5 million.

Holiday Inn Express, Louisville, KY

Huff, Niehaus & Associates, Inc. represented Westport Hospitality, LLC in the sale of an 81 unit Holiday Inn Express in Louisville for $4.9 million to QI Services, Inc. handling a 1031 Exchange for Hemish, LLC.

Holiday Inn Express, Owensboro, KY

Huff, Niehaus & Associates, Inc. represented K.C. Hospitality, Inc. in the sale of this 70 unity 7-year old property, Holiday Inn Express for only 1.5 years, excellent condition, no PIP at possession.

Best Western Villa Inn, Lawrenceburg, TN

Representing the seller, an Alabama investment group, Huff, Niehaus & Associates brokered the sale of the 48 unit Best Western, valued at $1.8M, in Lawrenceburg, TN.

Best Western Hancock, Lewisport, KY

The 48 unit Best Western, located in Lewisport, KY was sold for $1,250,000. The Seller, represented by Huff, Niehaus & Associates, was an Indiana corporation, the Buyer, a local investment group.

Sleep Inn, Henderson, KY

The 63 unit Sleep Inn, located in Henderson, KY was sold for $1,700,000. Huff, Niehaus & Associates represented the Seller, an Illinois investment group.

Best Western Campbellsville Lodge, Campbellsville, KY

Representing the seller, Huff, Niehaus & Associates brokered the sale of the this 63 unit Best Western, valued at $1.525,000. The buyer plans to enclose the pool and add rooms.

Every effort has been made to provide accurate information for all property listings and it is believed this information is reliable. However, we are not responsible for misstatements of facts, errors, omissions, prior sale, change of price, or withdraw from the market without notice.