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Business & Finance

Holiday Inn Express Quincy, Florida Sale Arranged by MBA Hotel Brokers

QUINCY, FL. September 11, 2017 - MBA Hotel Brokers, Inc. announces the sale of the Holiday Inn Express in Quincy, Florida. Suresh Patel, Associate Broker with MBA Hotel Brokers, represented the Seller, Kiwi’s Hospitality Inc. The hotel was purchased for an undisclosed amount.

The Holiday Inn Express Quincy is located about 22 miles outside of Tallahassee, off Interstate 10. The 56 key hotel was built in 2006 and has won multiple awards. In 2016, it was awarded IHG’s highest honor, the Torchbearer Award. Also in 2016, the Holiday Inn Express Quincy was a winner of the TripAdvisor Certificate of Excellence.

In 2015, the hotel started an IHG revenue management program which had a significant positive impact on monthly revenue. Room revenue was up $203,000 in 2015 due to these measures and a growing local economy.

The sale of the Holiday Inn Express Quincy is the fourth hotel sale arranged by Suresh Patel so far in 2017 and makes over $24 million in hotel sales volume for the company year to date. MBA Hotel Brokers Inc. has been advising on hotel transactions for over 20 years with a corporate office in Maryland and additional branch locations around the country. MBA Hotel Brokers Inc. has closed hundreds of hotel sales, in 26 states throughout the USA. For more information, contact Charlie Fritsch, President, at Charlie@mbahotels.com, or Suresh Patel, Associate Broker at suresh@mbahotels.com. On the web at www.mbahotels.com.

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.