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 firstname.lastname@example.org. On the web at www.mbahotels.com.
"Charlie Fritsch of MBA Hotel Brokers did a wonderful job under difficult circumstances. Because this sale involved the South Carolina Bankruptcy Courts and a Bankruptcy Trustee, there was additional work and extreme patience required of our broker and Charlie stuck with it and made the sale happen." - Trustee of Comfort Inn, South Carolina