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Business & Finance

Wason Associates Negotiates the Sale of the Valley Inn in Waterville Valley, NH

PORTSMOUTH, NH. April 27, 2017 – Wason Associates Hospitality Real Estate Brokerage Group (Wason Associates) is pleased to announce that they have successfully negotiated the sale of The Valley Inn located in Waterville Valley, New Hampshire. The sale was finalized on December 20, 2016.

The 40-room, boutique-style property offers rooms, suites, and townhouses. It is situated in one of the Northeast's most sought after resort markets, Waterville Valley. This area’s active three-season resort town is surrounded by 7,000 acres of national forest and includes the Waterville Valley Ski Resort, the “Town Square,” Adventure Center, a golf course, and the White Mountain Athletic Club.

Wason Associates negotiated the transaction between Lund Acquisitions, LLC and Cardinal NH5 Real Estate, LLC for a sale price of $2,975,000. This is the 5th hotel purchased in New Hampshire by the buyer and his affiliates.

“It was a pleasure to facilitate the successful transfer of The Valley Inn to its new owners,” states Earle Wason, CCIM and President of Wason Associates. “We enjoy contributing to the growing New England hospitality market, and working with skilled individuals and companies in our industry.”

About Wason Associates Hospitality Real Estate Brokerage Group

Wason Associates is a highly-respected New England-based brokerage firm comprised of professionals who bring a unique combination of financial, banking, and real estate expertise to each transaction. President, Earle Wason, CCIM has over 30 years of experience in the hospitality real estate market. Offering advisory services to both buyers and sellers, Wason Associates provides a strategic, client-centric approach to problem-solving, financial advising, and transaction execution. For more information on Wason Associates, visit www.hospitalityrealestate.com.

Contact:
Jessica Chabot
Millennium Integrated Marketing
Email: jchabot@mill-im.com
Phone: (603) 792-2200 ext. 203

Coming Up In The December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.