Representing the Seller and Buyer of this 69 Room Economy Franchise Hotel
Crystal Investment Property, LLC, (“CIP”) a member of Hotel Brokers International, announced the successful sale of the Howard Johnson Inn in Salem, Oregon. CIP, a licensed Oregon brokerage, represented the Seller and Buyer 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 Howard Johnson Inn is a 69 key franchised economy scale hotel with interior corridors. Property features on-going capital improvements and a 1-bedroom/1-bathroom owner’s quarters. On-premises facilities include an outdoor pool, breakfast area, exercise room, guest laundry, truck/bus/RV parking and a business center for visitor convenience. This property is well located just a mile from downtown Salem with easy access to I-5 and Highway 22, a main thoroughfare for visitors to Salem’s downtown core. Just minutes from the Oregon State Capital, Oregon Expo Center, and Willamette University, the Howard Johnson Inn attracts both business and leisure guests. Restaurants, museums, and shopping, along with a variety of outdoor activities and year-round demand drivers, make this an attractive property location.
Joseph Kennedy, President of CIP said, “The Howard Johnson Inn Salem hotel is extremely well situated to capitalize on government as well as short-term guests. We were pleased to bring the Seller multiple offers and believe the new owners will carry on the tradition of exceptional hospitality and quality the Sellers brought to the hotel. We wish both the Seller and Buyer good fortune in their new ventures.”
About Crystal Investment Property, LLC
Crystal Investment Property, a premier 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