– Hawthorn Suites in Ann Arbor Michigan
This property is out of our normal territory, but one of the lenders called us in to help get it sold. The property had been previously foreclosed on and was operated by a receiver. The Hawthorne franchise had been terminated and the property was not only off the Wyndham system but all of the OTAs. Income had decreased significantly.
– The Quality Inn, Oakdale, CA
The Quality Inn Oakdale is a 70 unit full-service hotel which was previously a Ramada Inn franchise. The property was unable to meet its debt srvice due to the decline in the lodging market. We found an interested buyer and negotiated a favorable deal with the owner and the bank.
– The Concord Inn and Suites, Concord, CA
The Concord Inn and Suites is a 42 unit interior corridor hotel which was previously a Comfort Inn franchise. The property lost its Choice flag and experienced a drastic decline in revenue since it last sold in 2007. We listed the property and found a buyer to purchase the property with the plan of converting it to a budget extended stay property unter the “Studio 6” brand by Accor.