Hotel AG Sells Hilton Garden Inn Silver Spring, MD
ATLANTA, GA - July 30, 2010 - Hotel Assets Group, LLC (Hotel AG), announced today that the firm negotiated the sale of the Hilton Garden Inn in Silver Spring, Maryland on behalf of Baywood Hotels. The property sold to Apple REIT Nine for a purchase price of $17,400,000.
Brad Sinclair, Vice President of Hotel AG stated, “This transaction was made possible due to the quality of the developer, Baywood hotels, and the strength of the buyer, Apple REIT. This transaction closed 60 days from start to finish and was very smooth for both parties involved. “
The Hilton Garden Inn is a four-story, 107-room hotel that opened in July 2010. The property is located on 1.8 acres in north Silver Spring, Maryland.
About Hotel AG
Headquartered in Atlanta, Georgia with 16 national offices, Hotel AG is a specialized brokerage firm offering hotel-specific real estate and investment banking within the United States. The company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Today Hotel AG has 139 hotels on the market in 34 states valued at 1.2 billion. Hotel AG can be found online at www.hotelassetsgroup.com.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
