Savannah, GA (PRWEB) May 09, 2012
Brent Clemens, Associate at PLA Chicago, who represented the seller, noted, “Early in the marketing process the property produced a significant amount of interest. This was indicative of not only the outlook of the hotel metrics in greater Savannah, but also the ability to significantly penetrate the competitive set by driving rate after the implementation of the Marriott product improvement plan.” The 80-room, upper midscale property benefits from an excellent location and is well positioned to capture both transient and leisure demand.
According to a spokesperson for Southern Hospitality Group, LLC, “The deal was made possible by PLA's hospitality expertise. Despite some initial challenges, we relied on PLA's guidance to get the highest price while providing the greatest assurances of a successful close.”
About Paramount Lodging Advisors
Paramount Lodging Advisors is a hotel advisory and brokerage firm specializing in the acquisition, asset management, debt and equity placement, and disposition of hospitality assets across the United States, Canada, & London. For more information about Paramount Lodging Advisors, and to see hotels currently on the market visit http://www.paramountlodging.com