Wason Associates Negotiates the Sale of Holiday Inn Express in Keene
Posted on June 5th, 2012 by Earle Wason
The Holiday Inn Express, a highly sought after franchise, consists of 80 impeccably maintained rooms remodeled in a recent $1,000,000 renovation. The property is located a few blocks from downtown Keene and Keene State College. As one of the best hotels in the southwestern part of New Hampshire, the Inn benefits from numerous local business, corporate, and leisure activities. The property has been exceptionally well-managed over the past 14 years by Linchris Hotel Corporation, a hospitality leader in management and ownership.
The extensive remodeling renovation the Inn underwent was per an agreement with InterContinental Hotels Group (IHG), the owner of the Holiday Inn Express name. Buyers OS&S Keene, LLC also negotiated the continuation of the franchise rights to the Holiday Inn Express name. Colwen Hotel Management, based in Nashua, will oversee property operations for the buyers, ensuring a continuation of exceptional industry standards. Colwen Hotel Management now maintains a portfolio of approximately 20 hotels under a variety of brands. This will be the third hotel in the Keene market managed by Colwen. Wason Associates team members Earle Wason, Joe Cardillo, and Peter Annon engaged in various aspects of the negotiations of the Holiday Inn Express sale and managed the transaction until the transfer of title date.
“We are very pleased by the recent negotiations of the Holiday Inn Express in Keene,” states Earle Wason, President of Wason Associates. “It is a fine property that has been well managed over the years, and recent renovations made it an exceptional piece of real estate to be purchased. We are thrilled that Wason Associates continues to facilitate the successful transfers of hospitality properties during these challenging economic times.”
About Wason Associates
Wason Associates Hospitality Real Estate Brokerage Group is a highly-respected New England-based brokerage firm comprised of professionals who bring a unique combination of financial, banking, and real estate expertise to each transaction. President Earle Wason, CCIM has over 25 years of experience in the hospitality real estate market. Offering advisory services to both buyers and sellers, Wason Associates provides a strategic, client-centric approach to problem-solving, financial advising, and transaction execution. For more information on Wason Associates, visit hospitalityrealestate.com.
Our team welcomes you to the Wason Associates Hospitality Real Estate Brokerage Group web site. Here you will find relevant and up to date information on the market, review current transactions, learn about our services and most importantly review hotels offered for sale.