SEPTEMBER 16, 2008. On behalf of a trust specifically serviced by Capital Asset Management, LLC, Jones Lang LaSalle Hotels' select service division is pleased to announce the sale of the Days Inn Grand Rapids Airport to A&M Hospitality. The 119 guestroom hotel features an outdoor swimming pool, fitness center and a 600 square foot conference room.
The hotel benefits from its location on 28th street, proximate to the area's major retail and office developments as well as the Gerald R. Ford International Airport. Originally opened as a Hampton Inn in 1987, the hotel was converted to Days Inn in May 2007. New ownership plans a renovation and repositioning of the hotel to a Clarion Inn & Suites.
"This was a strategic opportunity for a Michigan based ownership group that already had presence in Grand Rapids to bolster its portfolio," said Adam McGaughy, an executive vice president for Jones Lang LaSalle Hotels. "By taking a more hands on ownership approach, as well as instituting a brand repositioning strategy, new ownership should benefit from strong future growth."
About Jones Lang LaSalle Hotels
Jones Lang LaSalle Hotels, the first and leading global hotel investment services firm, is uniquely positioned to provide both the depth and breadth of advice required by hotel investors and hotel companies, through a robust and integrated local network. In 2007, Jones Lang LaSalle Hotels provided sale and purchase advice on 259 hotel transactions globally; representing a combined value of US$13.9 billion, a total of 54,763 hotel rooms in 84 cities. In addition advisory and valuation services were provided on 660 assignments globally for 182,048 rooms across more than 300 cities.
