Hunter Hotel Advisors announced today that the firm recently advised on the sale of three MainStay Suites for Choice Hotels International, one of the world’s largest hotel companies. The hotels, located in Pittsburgh, Nashville and Greenville, S.C. were acquired by regional investors who were attracted to the extended stay model in these prime locations.
“Their robust interests in these assets reinforce the importance that investors place on strong locations even if they are in secondarymarkets,” said David Perrin, a senior associate at Hunter Hotel Advisors DC office who brokered the transaction. All three hotels have plans for extensive renovations to update to the MainStay Suites current standards.
“Choice Hotels and its franchisees have had a long and very successful history working with Hunter Hotel Advisors on many important transactions,” said Steve Stoycos, managing director of real estate and asset management for Choice Hotels International. “As one of the world’s leading hotel companies and franchisor of eleven highly appealing brands, we appreciate the essential insights and expertise Hunter brings to every deal.”
In addition to the Choice Hotels properties, Hunter is having a strong third quarter with ten additional closings expected this Spring. “Our clients, both buyers and sellers, are taking advantage of the improving landscape and market conditions which will likely result in our strongest year ever,” said Teague Hunter, president of Hunter Hotel Advisors.
Hunter’s seven brokerage offices specialize in select and full-service hotels and currently represent more than 100 hospitality assets nationally. Additional information, including current listings, is available at the company’s website, www.HunterHotels.net, or by contacting the Atlanta headquarters at 770-916-0300.
About Choice Hotels
Choice Hotels International, Inc. franchises more than 6,300 hotels, representing more than 500,000 rooms, in the United States and more than 35 other countries and territories. As of March 31, 2014, 398 hotels, representing more than 30,000 rooms, were under construction,awaiting conversion or approved for development in the United States. Additionally, 95 hotels, representing approximately 8,900 rooms,were under construction, awaiting conversion or approved for development in more than 15 other countries and territories. The company'sComfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brands, as well as its Ascend Hotel Collection membership program, serve guests worldwide.
Choice Hotels International offers the Choice Privileges® rewards program. With more than 19 million members worldwide, is one of the fastest growing hotel loyalty programs in the travel industry.
Additional corporate information can be found on the Choice Hotels International, Inc. web site, which may be accessed at www.choicehotels.com.
Hunter, with seven strategically-located offices, is one of the nation's leading providers of brokerage and capital markets advisory services to the hotel industry. Specializing in full and select-service listings, Hunter's team of seasoned professionals and the industry's brightest stars have leveraged their combined expertise to successfully advise thousands of clients through all economic conditions.