Business & Finance

Paramount Lodging Advisors Sells 12th Consecutive Property in the Indiana Market

INDIANAPOLIS, IN. September 26, 2017 - Paramount Lodging Advisors (PLA) is pleased to announce four transactions in Indiana over the last 14 days – starting with the sale of the Quality Inn South Bend and the Quality Inn Indianapolis. The properties were sold to a single buyer for an undisclosed amount. Managing Directors Bennett Webster and Brent Clemens, Senior Associate Mike Schlictman, and Associate Hussain Waseem represented the seller in these transactions.

The 246-room portfolio was ideally positioned next to the University of Notre Dame in South Bend and the I-465 Beltway in Indianapolis. The buyer was looking to substantially supplement the cash flow of their existing hotel portfolio.

In addition to the above sales, the PLA team also transacted on the 137-room Waterfront Hotel and Conference Center in Indianapolis and the 84-room Van Buren Hotel in Shipshewana for separate sellers.

Senior Associate Mike Schlictman said, “The sales bring us to 12 consecutive, successful engagements in Indiana and we are looking to continue that success for both our institutional and private clients."

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 November Online Hotel Business Review




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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.