Marcus & Millichap facilitated the close of four separate hotel sales involving limited-service properties in Connecticut, Illinois and Texas.
The Fairfield Inn & Suites in Wallingford, Conn., sold for $9.2 million. The four-story, 116-room hotel was built in 1985 as a Susse Chalet hotel. The property was reflagged as a Fairfield Inn & Suites in 2001 and recently underwent significant capital improvements totaling more than $1.3 million. On-site amenities include professional workspaces, laundry facilities, complimentary Wi-Fi, a fitness center, dry-cleaning services and a convenience store.
Marcus & Millichap’s Jerry Swon and Andrew Kern, in association with John Krueger—the firm’s broker of record in Connecticut—represented the seller and procured the buyer, both of which remain undisclosed.
Meanwhile, the company facilitated the sale of a pair of properties in Elgin, Ill., including the 78-room Comfort Suites, which was sold to a regional buyer. Built in 2006, the Comfort Suites is located on Bushwood Drive near Interstate 90, approximately 35 miles northwest of downtown Chicago. The property—which recently underwent a full renovation—includes an indoor pool, meeting space, business center and fitness center.
Ebrahim Valliani, managing director investments, Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller and procured the buyer. The transaction received additional support from Michael Klar, Allan Miller and Chris Gomes of the Miller-Gomes Hotel Team.
The company also helped sell an independent hotel, which was built in 1994. Located just off Interstate 90 and State Route 31, the hotel is on 2.23 acres and has 107 guestrooms, an indoor pool, fitness center and business center.
Finally, the company facilitated the sale of the 120-room Red Roof PLUS+ in Houston. Skyler Cooper— investment specialist in Marcus & Millichap’s Dallas office—had the exclusive listing to market the property on behalf of the seller, Park 10 Hospitality, and procured the buyer, Shree Avdhoot Krupa of Texas, (Ketan Rama). The transaction received additional support from Chris Gomes, Allan Miller and Rajan Patel of the Miller-Gomes Hotel Team.
Built in 1995, the three-story Red Roof PLUS+ hotel is on nearly 2.5 acres on Park Ten Place, just off Interstate 10 and a half-mile from Highway 6. Amenities include a breakfast area, fitness center and guest laundry facilities. The hotel is surrounded by demand drivers such as Topgolf, Memorial City Hall and Houston Methodist West Hospital.