Business & Finance

JLL Arranges Sale of the Sheraton Atlanta Hotel

ATLANTA, GA. March 14, 2017 – JLL today announced that it has arranged the sale of the Sheraton Atlanta Hotel on behalf of affiliates of Amerimar Enterprises and Contrarian Capital. Affiliates of Arden Group purchased the 763-key property, located in downtown Atlanta.

Managing Director Robert Webster, Executive Vice President Tim Southard and Vice President John Harper led the JLL team on the transaction. JLL has now sold over $1 billion in Atlanta hotels since 2013, including over $600 million Downtown.

“The sellers recently transformed this institutional quality asset through significant renovations. And it’s located adjacent to Georgia State University in rapidly growing Downtown Atlanta, making it very appealing to buyers,” said Webster. “With limited new supply in the area and increasing demand, Atlanta’s lodging market is expected to continue growing in the years to come.”

The Sheraton Atlanta Hotel has 90,000 square feet of meeting space, three food and beverage outlets, a fitness center and an indoor pool.

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling more than $68 billion worldwide. Between negotiating property deals, the group’s 350-person global team also closed more than 4,400 advisory, valuation and asset management assignments. To find out more visit: www.jll.com/hospitality

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At year-end 2016, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 77,000. As of December 31, 2016, LaSalle Investment Management has $60.1 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

Contact:
Maggie Nichols
Email: maggie.nichols@am.jll.com
Phone: +1 312 288 3837

Chris Walsdorf
chris.walsdorf@am.jll.com
+1 312 228 2955

Coming Up In The November Online Hotel Business Review




{300x250.media}
Feature Focus
Architecture & Design: Authentic, Interactive and Immersive
If there is one dominant trend in the field of hotel architecture and design, it’s that travelers are demanding authentic, immersive and interactive experiences. This is especially true for Millennials but Baby Boomers are seeking out meaningful experiences as well. As a result, the development of immersive travel experiences - winery resorts, culinary resorts, resorts geared toward specific sports enthusiasts - will continue to expand. Another kind of immersive experience is an urban resort – one that provides all the elements you'd expect in a luxury resort, but urbanized. The urban resort hotel is designed as a staging area where the city itself provides all the amenities, and the hotel functions as a kind of sophisticated concierge service. Another trend is a re-thinking of the hotel lobby, which has evolved into an active social hub with flexible spaces for work and play, featuring cafe?s, bars, libraries, computer stations, game rooms, and more. The goal is to make this area as interactive as possible and to bring people together, making the space less of a traditional hotel lobby and more of a contemporary gathering place. This emphasis on the lobby has also had an associated effect on the size of hotel rooms – they are getting smaller. Since most activities are designed to take place in the lobby, there is less time spent in rooms which justifies their smaller design. Finally, the wellness and ecology movements are also having a major impact on design. The industry is actively adopting standards so that new structures are not only environmentally sustainable, but also promote optimum health and well- being for the travelers who will inhabit them. These are a few of the current trends in the fields of hotel architecture and design that will be examined in the November issue of the Hotel Business Review.