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Business & Finance

HREC Arranges Sale of Comfort Inn Buckhead North Atlanta, Georgia

DENVER, CO./ ATLANTA, GA. September 4, 2017 – HREC Investment Advisors is pleased to announce it has arranged the sale of the 80-guestroom Comfort Inn Buckhead North located in Atlanta, Georgia. The property was acquired by Wessex Hotels, LLC, a company based in Atlanta.

Tom Huegel, Senior Vice President in HREC Investment Advisors’ Atlanta office, exclusively represented PHP Enterprises during the transaction.

“This transaction was the result of a buyer coming to us with a request to specifically seek out a possible purchase of the Comfort Inn and from there, we were able to put buyer and seller together in a deal structure that worked for both parties. In the market we are in today, this type of direct-sourced deal will likely become more prevalent and is a smart strategy for buyers to consider as the market continues to have a dearth of quality acquisition opportunities on the open brokerage market,” commented Huegel.

The Comfort Inn is located directly along the I-285 N Perimeter at Roswell Road in Sandy Springs near the new Sandy Springs City Hall and Performing Arts Center. This location is also close to and convenient to the booming Perimeter Center market and the headquarters of UPS and the new headquarters for Mercedes North America, and just 3 miles east of Cumberland/Galleria and the new Sun Trust Atlanta Braves stadium.

About HREC®: HREC® is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), and litigation support. With 16 offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital and hotel/casino specialization.

For additional information on the property, please contact:

Tom Huegel
Senior Vice President
thuegel@hrec.com
404.671.9598

Scott Stephens
COO & Senior Principal
sstephens@hrec.com
813.635.0600

Ashley Hunt
Director of Marketing
ahunt@hrec.com
303.267.0057

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.