Yakima, WA GuestHouse Inn & Suites Sold for $2.1M
Tuesday July 1st, 2014 - 9:37AM F
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KANSAS CITY, MO—Crystal Investment Property, LLC, a member of Hotel Brokers International, has brokered the sale of the GuestHouse Inn & Suites in Yakima, WA, for $2.1 million.
The two-story, 50-key property was sold on behalf of Emerald Holdings, LLC, and was built in 1998 as an independent hotel. It was converted to a GuestHouse Inn & Suites in early 2013. The property will continue to operate as a GuestHouse Inn & Suites.
"The Pacific Northwest region remains very attractive to investors and a strong agricultural hub, like the Yakima Valley, offers strong demand drivers year round. We had positive response from quite a number of buyers and feel that, given the competitive nature of the interest in the property, we were able to secure a top market price for the seller," stated Joseph Kennedy, president of Crystal Property.
Tags: Crystal Investment Property • Guesthouse • Emerald Holdings • Hospitality • Brokers •
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.