AG Brokers Sale of Ormond Beach, FL Hotel
ATLANTA, GA - February 7, 2011 - Hotel Assets Group, LLC (Hotel AG), announced today they closed the 110-room Makai Hotel in Ormond Beach, Florida on behalf of Wells Fargo. The property sold to Lonaga Florida, LLC for an undisclosed amount.
"This was a smooth transaction in that the buyer waived due diligence and didn't need to finance resulting in a quick close, stated Wendy Blissett, vice president and partner of the firm. “This is the fourth transaction we have successfully completed for Wells Fargo.”
The Makai Hotel is an independent hotel situated directly on the beach in Ormond Beach, Florida.
About Hotel AG
Headquartered in Atlanta, Georgia with 16 national offices, Hotel AG is a specialized brokerage firm offering hotel-specific real estate and investment banking within the United States. The company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Today Hotel AG has 134 hotels on the market in 33 states valued at 1.1 billion. Hotel AG can be found online at www.hotelassetsgroup.com.
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Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
