Business & Finance

Paramount Lodging Advisors Team Arranges Sale of the Heartland Inn Coralville, IA

CORALVILLE, IA. April 6, 2017 - Paramount Lodging Advisors (PLA) has successfully sold the Heartland Inn located in Coralville, IA. Managing Directors Adam Montufar, Bennett Webster, and Brent Clemens represented the seller in this transaction.

The 169-room Heartland Inn is situated walking distance from the University of Iowa Campus. In addition to its ideal location, the hotel has sustained consistent, prosperous overall performance for the past several years.

“We are extremely pleased with the execution of this transaction. It had a variety of unique complexities that all parties diligently worked through. The collaborative effort between our Chicago and Des Moines offices continues to find success in Iowa; with the Heartland sale marking our sixth trade within the state over the past eight months,” stated Montufar.

About Paramount Lodging Advisors

Paramount Lodging Advisors (PLA) is a hotel brokerage and advisory firm specializing in the sales of hospitality assets, debt and equity placement, as well as value enhancement services across the United States. For more information regarding PLA, please visit www.ParamountLodging.com.

Contact:
Jacki Bubis
jbubis@paramountlodging.com
3122390166

Coming Up In The September Online Hotel Business Review




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Feature Focus
Hotel Group Meetings: Blue Skies Ahead
After a decade of sacrifice and struggle, it seems that hotels and meeting planners have every reason to be optimistic about the group meeting business going forward. By every industry benchmark and measure, 2017 is shaping up to be a record year, which means more meetings in more locations for more attendees. And though no one in the industry is complaining about this rosy outlook, the strong demand is increasing competition among meeting planners across the board – for the most desirable locations, for the best hotels, for the most creative experiences, for the most talented chefs, and for the best technology available. Because of this robust demand, hotels are in the driver’s seat and they are flexing their collective muscles. Even though over 100,000 new rooms were added last year, hotel rates are expected to rise by a minimum of 4.0%, and they are also charging fees on amenities that were often gratis in the past. In addition, hotels are offering shorter lead times on booking commitments, forcing planners to sign contracts earlier than in past years. Planners are having to work more quickly and to commit farther in advance to secure key properties. Planners are also having to meet increased attendee expectations. They no longer are content with a trade show and a few dinners; they want an experience. Planners need to find ways to create a meaningful experience to ensure that attendees walk away with an impactful memory. This kind of experiential learning can generate a deeper emotional connection, which can ultimately result in increased brand recognition, client retention, and incremental sales. The September Hotel Business Review will examine issues relevant to group business and will report on what some hotels are doing to promote this sector of their operations.