HREC Arranges Sale of Embassy Suites Atlanta Airport
Monday February 10th, 2014 - 9:41AM E
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ATLANTA—HREC Investment Advisors has arranged the sale of the 232 all-suites Embassy Suites Atlanta Airport Hotel here.
The hotel was sold on behalf of a subsidiary of FelCor Lodging Trust for $17.2 million to an affiliate of Houston-based WEDGE Hotels. Kana Hotel Group has been retained to manage the hotel. The hotel is located close to a number of corporate and group demand generators including Delta Airlines, Bank of America, DHL, Boeing Training and Flight Services, Coca-Cola Bottling Systems, Sysco Foods, and the Georgia International Convention Center.
Monty Levy, SVP, HREC Investment Advisors' Atlanta office, Bill Murney, SVP in the Phoenix office and Scott Stephens, COO & Senior Principal, in the Tampa office, exclusively represented the seller during the transaction.
Tags: HREC • Embassy Suites • Hospitality • Acquisitions •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.