Warmbrodt to Advise in Sale of Seville Plaza, Kansas City, MO
KANSAS CITY, MO, February 17, 2006. Warmbrodt Hotel Investments, Inc. ("WHI") a Kansas City based hotel real estate firm, announced today it has been selected to advise in the disposition of the 77-room Best Western Seville Plaza located in Kansas City, Missouri.
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The 4-story, interior-corridor, limited-service hotel, is strategically located on the exclusive Country Club Plaza, in the heart of the Midtown Kansas City lodging market, in close proximity to America Century Funds, H&R Block, St. Luke's Hospital, Nelson Museum, the Westport Entertainment District as well as the new Internal Revenue Service Center that will have 4,000 employees.
Herb Warmbrodt, President of WHI said, "We are pleased to have been selected to advise the seller on the Seville Plaza Hotel. The overall Kansas City lodging market and particularly, the Country Club Plaza market, has experienced excellent increases in RevPar growth. The asset itself has experienced RevPar growth of over 120% the past three years as well as market penetration of over 126% of its' competitive set. With the continued development of the Country Club Plaza, the Main Street corridor and surrounding area, the growth potential of this property is excellent.
The Property has been well maintained by the owner, has excellent cash-flow, and is being viewed by investors as an excellent investment opportunity. We look forward to achieving our client's stated goals in this disposition."
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