MBA Hotel Brokers Inc. Arranges Sale of the Comfort Suites Jonesboro, Arkansas
August 2015 - MBA Hotel Brokers, Inc. successfully closed on the sale of the Comfort Suites, Jonesboro, Arkansas at an undisclosed price. Suresh Patel, Associate Broker of MBA Hotel Brokers Iowa Inc, d.b.a. MBA Hotel Brokers Inc., with a co-brokerage agreement with Merrell Associates Inc, a licensed Arkansas broker, represented the seller, Hotel Developers of Arkansas LLC. Suresh Patel also procured the buyer, JJB & H Hotels LLC.
The Comfort Suites Jonesboro is located at 3404 Access Rd. Jonesboro, Arkansas. The hotel, built in 2008, is only 7 years old and has 3 stories, interior corridors and 79 guest rooms. The property is in good condition and includes a heated indoor pool, fitness room, and business center.
The seller of the Comfort Suites said, “Suresh worked very hard and diligently to make this sale happen for us. MBA Hotel Brokers successfully marketed the hotel, and Suresh conducted numerous showings on our behalf. We're very happy with Suresh and MBA's performance, and appreciate the honesty, integrity and experience Suresh applied to this transaction.” The Comfort Suites is an attractive investment because it is a steady performer with strong revenue and good net income. One challenge for the deal was when the PIP came back from the franchisor larger than expected by either party.
The buyer said, “As buyer of the Comfort Suites Arkansas, we were grateful for Suresh's professional management of this transaction, even when challenges around the PIP came up. Without Suresh's honesty, integrity and experience guiding the transaction, it may not have closed”.
Jonesboro is a regional center for manufacturing, medicine, education, and commerce. It is located 65 miles northwest of Memphis, Tennessee, and 130 northeast of Little Rock, Arkansas. The Comfort Suites has excellent visibility and access from U.S. Route 63, which is future I-555, the main highway through the city. It is convenient to the hospital, University, and industrial park.
MBA Hotel Brokers Inc. has been advising on hotel transactions for over 20 years. MBA Hotel Brokers has a corporate office headquartered in Maryland and five additional branch locations. MBA Hotel Brokers Inc. has closed hundreds of hotel sales, in 26 states throughout the USA. For more information, contact Suresh Patel at [email protected] or Charlie Fritsch at [email protected] or learn more at www.mbahotels.com.
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