Clarion Inn & Suites Super 8
FOR IMMEDIATE RELEASE
PARAMOUNT LODGING ADVISORS SELLS CLARION INN & SUITES AND SUPER 8 IN TERRE HAUTE, IN
CHICAGO, ILLINOIS – November 21st, 2014 – Paramount Lodging Advisors (PLA) is pleased to announce the sale of Clarion Inn & Suites and Super 8 in Terre Haute, IN.
The 142-room Clarion Inn & Suites located at 3053 South US Highway 41 in Terre Haute, IN and the adjacent 117-room Super 8 located at 3089 South 1st Street in Terre Haute, IN.
PLA was engaged by the court appointed receiver as the exclusive representative in the sale of the Clarion Inn & Suites. PLA Managing Directors Bennett Webster and Brent Clemens led the marketing efforts. “We had little operating history to go with, but felt the property was appropriately priced on price per pound basis,” noted Webster. Clemens continued, “Despite the lack of historical performance, it was evident from the beginning that investors were encouraged by the value add components of the hotel and the improved RevPAR metrics in the market.”
In the second transaction, PLA’s Clemens and Webster exclusively represented Supertel Hospitality in the sale of the Super 8 in Terre Haute. The sale of the Super 8 Terre Haute marks PLA’s sixth consecutive successful engagement with Supertel Hospitality.
Paramount Lodging Advisors (PLA) is a hotel brokerage and advisory firm specializing in the sales of hospitality assets, debt and equity placement, as well as value enhancement services across the United States. For more information about PLA, please visit http://www.paramountlodging.com/
Anna Hargraves
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