April 3, 2018, – MBA Hotel Brokers, Inc. announces the sale of the 2-hotel portfolio in West Memphis, Arkansas. The portfolio sale consisted of the Comfort Suites and Holiday Inn Express.
The Comfort Suites is one of the top rated and top performing hotels in its market. The hotel includes 82 keys, 4 floors and was built in 2008.
The Holiday Inn Express and Suites is adjacent to the Comfort Suites in West Memphis. The Holiday Inn Express is new construction and the sale of the property coincided with its opening. The property is 5 stories with 84 keys.
Suresh Patel, Associate Broker with MBA Hotel Brokers, represented the Seller of the portfolio deal. Suresh Patel negotiated the contract offer within weeks of listing the properties and following just one targeted email marketing campaign to MBA Hotel Brokers’ opt-in subscribers. There were delays and challenges during the contract period, primarily in relation to construction of the Holiday Inn Express.
Charlie Fritsch, President of MBA Hotel Brokers Inc. said, “Suresh's tenacity and shuttle diplomacy, and his constant work with IHG and the buyer who was also the same for both hotels, and the seller, was absolutely critical to get this to closing. The deal would have surely fallen apart a number of times otherwise”.
MBA Hotel Brokers Inc. has been advising on hotel transactions for over 20 years with a corporate office in Maryland and additional branch locations around the country. MBA Hotel Brokers Inc. has closed hundreds of hotel sales, in 26 states throughout the USA. For more information, contact Charlie Fritsch, President, at Charlie@mbahotels.com, or Suresh Patel, Associate Broker at email@example.com. On the web at www.mbahotels.com.
"Even though MBA represented the seller in this transaction, John was also very helpful to us, the buyers, especially in expediting the franchise application and franchise agreement process with Choice Hotels International, where MBA has some valuable business contacts and has formed a strong relationship with the franchisor." - Buyer Comfort Inn and Suites, Pennsylvania