Two New England Best Western Plus Hotels Sold for $22.5 Million
Tuesday April 15th, 2014 - 1:59PM B
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BOSTON—Two Best Western Plus locations have been sold to a regional owner/management firm in New England for a combined $22.5 million, according to Newmark Grubb Knight Frank, which marketed the properties.
The Best Western Roadhouse Suites, which featured 92 oversized suites in a historic building in Boston, was purchased by Dev Hospitality, LLC, and the Best Western Plus Black Rock, a 60-room hotel in Fairfield, CT, was purchased by Black Rock Acquisition, LLC. The hotels were sold by WNW Hospitality Group.
The properties were originally marketed as part of an eight-property portfolio.
Tags: Best Western • Newmark • Grubb • Knight Frank • sold • Hospitality • Brands •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.