Eight Sales in January for Mumford Company
Mumford Company today announced the closing of eight transactions for the month of January representing volume well in excess of $30 million. In 2006 Mumford Company averaged one hotel sale each week and the company set records for aggregate sales and average deal size.
Newport News, Virginia (PRWEB) February 23, 2007 -- Mumford Company today announced the closing of eight transactions for the month of January representing volume well in excess of $30 million. In 2006 Mumford Company averaged one hotel sale each week and the company set records for aggregate sales and average deal size. "The lodging market is flush with capital, both debt and equity, for acquisitions," states Steve Kirby, a Principal in the Atlanta office, "The opportunity to maximize gains on sales of holdings has never been better, as interest rates and equity requirements have held firm into the new year. The good news for sellers is this trend shows no sign of abating in the near term."
The eight transactions represented a variety of brands including Hampton Inn, Comfort Inn and Super 8, with a total over 742 rooms. Mumford Company structured these eight transactions on behalf of a diverse group of clients such as Full House Properties, Inc., FDGJR Buckhannon WV Hospitality, LLC and St. Simons Inn, LP an Atlanta based, multi-property owner, with holdings throughout the southeast. All transactions were facilitated by our dynamic sales associates through our regional offices.
January results indicate that 2007 will be another year of tremendous growth for the Mumford Company, which entered February with a portfolio of over 70 exclusive listings available for buyers and over 25 properties under contract or letter of intent. The firms' consistent growth is credited to the distribution network the Mumford Company has built through years of relationships with their clients and customers, as well as the firm's longevity in the industry. The company has offices in 4 states and has significant plans for strategic expansion in 2007.
The Mumford Company is the preferred choice for sellers of hotel properties representing most major franchises. The Mumford Company is recognized in the industry, since 1978, as a premier hotel brokerage firm and is strategically located to serve clients nationally, with offices in Atlanta, Chicago, Dallas and their corporate office in Newport News, Virginia.
For more information on the Mumford Company and its' services, please visit our website at www.mumfordcompany.com or contact Jackie L. Wilder at 757-873-0962 xt 303.
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