AMERICINN HOTEL
LOCATION
Rochester, MN
CLIENT
Titan Development
ROOMS
72
Project Overview
Ronn Thomas from Cushman & Wakefield NorthMarq was retained by Titan Development to sell 72 room limited service AmericInn Hotel.
Solutions
- Owners did not want the hotel staff aware that the property was for sale.
- The property was on a land lease and changes to the lease required government approval.
- The hotel lacked a location that was appealing to buyers because it was not located in the core of the city.
- The hotel faced new competition as the hospitality market was becoming saturated with several new hotels recently opened or under construction.
Results
- Discretely and aggressively marketed the hotel so that employees were unaware of the sale until the closing was imminent.
- To ensure a smooth transition to new ownership, hotel staff was notified of the sale with sufficient time prior to the sale.
- Secured an extension to the land lease to add value to the property.
- Sold the property for a maximum value of $2.5M.
“Our experience with Ronn selling our hotel was great. He was incredibly diligent and persistent which allowed the deal to keep moving forward.”
“Ronn did an incredible job selling our hotel. He kept us very informed of progress and was extremely professional .”