PROJECT OVERVIEW
Ronn Thomas of Cushman & Wakefield was retained by Titan Development to sell the 72 room limited service AmericInn Hotel.

CHALLENGES

• Owners did not want the hotel staff aware that the property was for sale.
• The property was on a land lease and changes to the lease required government approval.
• The hotel lacked a location that was appealing to buyers because it was not located in the core of the city.
• The hotel faced new competition as the hospitality market was becoming saturated with several new hotels recently opened or under construction.

RESULTS

• Discretely and aggressively marketed the hotel so that employees were unaware of the sale until the closing was imminent.
• To ensure a smooth transition to new ownership, hotel staff was notified of the sale with sufficient time prior to the sale.
• Secured an extension to the land lease to add value to the property.
• Sold the property for a maximum value of $2.5M.