Crystal Investment Property, LLC, (CIP) a member of Hotel Brokers International, announced the successful sale of the Olympic View Inn in Sequim, Washington. CIP, a licensed Washington brokerage, represented the Seller in the sale. Joseph P. Kennedy, President of CIP, worked closely with the Seller and Buyer, as well as the parties’ other professionals, to negotiate a mutually acceptable sale. The final sale price is confidential.
The Olympic View Inn is a 51 key independent midscale hotel with strong financials and an excellent opportunity to franchise in the future. Two exterior corridor buildings on 4 tax lots with excess land included create huge upside potential for possible expansion, pool, or dual brand. The hotel features newly remodeled and beautifully appointed rooms as well as extensive capital improvements. Guest amenities include a conference room and fitness center. Property is fronting Highway 101 for ease of access and is centrally located to restaurants, museums, casino, wildlife areas, and shopping.
Joseph Kennedy, President of CIP said, “While we enjoyed a strong amount of interest in this exceptional property from the onset of marketing, this particular Buyer had a unique combination of strong prequalification, other hotels in his portfolio, and a local presence which assured a seamless transition and continuity in the community. We are so pleased to be able to assist the Sellers to meet their goals of greater family time and travel in their retirement and to see this wonderful property under the stewardship of an exceptional hotel operator.”
About Crystal Investment Property, LLC
Crystal Investment Property, a premiere hospitality investment advisory and brokerage company located in the Pacific Northwest, maintains the most cutting-edge technological, online and social media presence as well as a full range of traditional and web-based marketing reaching local, regional, national and international clientele. The firm’s core services of hospitality asset acquisition/disposition are supported by innovative and creative solutions to maintain position as the most active and successful hotel broker in the region. Crystal Investment Property represents the full spectrum of hospitality real estate owners and their experience covers all hospitality assets types, including: full service hotels, boutique hotels, select service hotels, limited service hotels, as well as development projects, and leasehold transactions. Crystal Investment Property may be accessed online at www.crystalip.com.
About Hotel Brokers International
Founded in 1959, Hotel Brokers International members lead the industry in hotel real estate sales. HBI hotel brokerage specialists have successfully negotiated more than 10,000 hotel real estate transactions and consistently account for the largest share of all select-service and economy hotel sales in the United States. The organization’s database currently comprises more than 100 property listings and the HBI website attracts site visitors from around the world. Founder and host of the popular Hotel Investor’s Marketplace Webcast, HBI also developed the Certified Hotel Broker professional designation program. In addition to hospitality real estate advisory services, HBI offers affiliate membership to professionals in allied fields, including franchising, lending, appraisals and investment services. For more information about HBI’s hotel listings or to become a broker or affiliate member, visit www.hbihotels.com.
For more information contact:
Joseph P. Kennedy, President
Crystal Investment Property, LLC
Glenda J. Webb, Managing Director
Hotel Brokers International
Kansas City, Missouri