There has been continued improvement in the hospitality market in 2013 and as a result the number of transactions is increasing. Buyer demand is increasing and with the continued low interest rates it has become a very good time to sell or buy. We have completed a number of transactions over the past few weeks that include:
- Christmas Farm Inn and Spa, Jackson NH at $60,000 per room
- Best Western Freeport Inn, Freeport Maine, at $44,000 per room
- Red Carpet Inn, New London CT. at $26,000 per room
- Royalty Inn and Health Club, Gorham, NH at $45,000 per room plus the Health Club
We also consulted with the seller on the sale of distressed hotel properties in New England with a total of 100 rooms and a selling price of $30,000 per room.
It has been a very busy few weeks for closing transactions and indicative of a stronger market we have recently brought two more very nice owner operator properties on to the market. The full details for the Brookside Motel and the 1785 Inn can be viewed at the “Properties for Sale” section of this web site. Visit our web site often as offerings of more hotels for sale will be displayed over the upcoming few weeks.
Enjoy the balance of the Summer