Paramount Lodging Advisors Brokers Sale of the Parke Hotel & Conference Center Bloomington, IL

Paramount Lodging Advisors is pleased to announce the sale of the Parke Hotel & Conference Center located at 1413 Leslie Drive in Bloomington, Illinois. PLA exclusively represented the lender in the sale of the property.

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Parke Hotel and Conference Center

Chicago, IL (PRWEB) January 28, 2013

PLA Associates Brent Clemens and Bennett Webster ran the marketing and sale process on the full-service, conference center asset in less than 90-days while producing over 125 registered buyers. Brent Clemens noted “buyer interest was indicative of not only the current Bloomington lodging metrics, but also property performance upside on both rate and occupancy. In the State of Illinois, Bloomington sits behind only Chicago and Peoria with respect to RevPAR performance.”

“This particular sale demonstrated PLA’s multi-platformed suite of services,” added Webster. Paramount was initially engaged to asset manage the REO asset and in combination with property manager Midas Hospitality, oversaw a 40% RevPAR improvement year-over-year. Bennett Webster also added, “the sale concluded a particularly strong year for our PLA team, who have averaged more than one successful transaction per week since August.”

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


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