Auction.com and Paramount Lodging Advisors Partner to Bring 15 Wyndham and Choice Branded Hotels for Sale Via Online Auction
Growth of hotel sales via Auction.com in 2015 validates the effectiveness of the platform
IRVINE AND SILICON VALLEY, CA. Aug. 17, 2015 - Auction.com, LLC, the nation's leading online real estate marketplace, has been selected with Paramount Lodging Advisors, a leading national hotel advisory team exclusively committed to the hospitality industry, to bring a portfolio of 15 Wyndham and Choice branded hotels to sale on the online platform.
The fifteen properties, which are located across six states and include hotels under the brands Baymont Inn & Suites, Comfort Inn, Quality Inn and Howard Johnson will be sold separately at Auction.com online events scheduled for Sept. 15-17, 2015.
“The growing number of hotels being sold through Auction.com - from select-service to large, full-service and boutique properties - demonstrates the effectiveness of the platform and its increasing acceptance among real estate investors, from private investors to institutional buyers,” said Anthony Falor, managing director of Auction.com's Hospitality Division. Within the first seven months of 2015, the company has closed 40 hotel transactions across the US, with total sales proceeds exceeding $160 million. With another 35 hotels currently in escrow and scheduled to close through mid-September, the company is well on target to surpass its 2014 hospitality sales total of $242 million.
“We expect to see business continue to strengthen as 2015 progresses - and are proud to once again partner with Paramount Lodging Advisors, a company that shares our commitment to the hospitality market, and to providing buyers and sellers with an enhanced experience that is simple, transparent, effective and approachable,” said Falor.
The Auction.com platform brings an extensive pool of buyers - international, national, regional, and cross-product investors - together with sellers in an easy-to-use, transparent and democratic process that creates true market value for any real estate asset. The effectiveness of the platform is well known and appreciated by Paramount Lodging Advisors, which has sold 30 properties on the platform to date and currently has six in escrow.
“Auction.com remains an innovative and effective way to connect hotel buyers and sellers from across the country and around the world,” said Paramount Lodging Advisors Senior Managing Director and Chairman Daniel Beider. “In addition to the transparency the platform delivers, we appreciate having a dedicated team of industry veterans to partner with - professionals who truly understand the unique challenges and nuances associated with transacting hotel properties. We look forward to continuing to partner with Auction.com on this deal and many more opportunities in the future.”
To learn more about buying and selling hospitality assets on Auction.com, please contact Anthony Falor at (973) 727-0314 or [email protected], or visit www.auction.com/sell.
About Auction.com
Auction.com, LLC, is the nation's leading online real estate marketplace. Founded in 2007, the company has sold over $30 billion in residential and commercial real estate assets. Auction.com has over 900 employees and headquarters in Irvine and Silicon Valley, California as well as offices in Austin and Plano, Texas, Atlanta, Denver, New York and Miami. Visit Auction.com for more information.
CONTACT:
Kent Barrett
The Hoyt Organization
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310.373.0103
Katherine Lambert
The Hoyt Organization
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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 
