HREC Investment Advisors Arranges Sale of Inn at Norton
Monday January 20th, 2014 - 9:12AM F
| | | | | | | | | | |
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
NORFOLK, VA—HREC Investment Advisors arranged the sale of the 120-room Inn at Norton here.
The Inn is off Highway 283 near the intersection of Highway 23, approximately 20 miles from the Kentucky state line and 45 miles from the Tennessee state line.
Norton and surrounding areas play host to several yearly events and festivals, including the Best Friend Festival and the Dock Boggs Festival.
HREC VP Ted Anka, who represented the seller, stated, "The Inn at Norton has tremendous upside potential and recently joined the Quality Inn system. Norton itself serves as the regional hub for finance, healthcare, professional services and retail in Western Virginia as the surrounding environment plays host to a variety of yearly events that produce overnight stays. The Hotel is located only one mile from Jefferson National Park along with the regional locations of several large companies, including a Pepsi-Cola Seven-Up bottling plant and a call center for Verizon Wireless."
Tags: HREC Investment Advisors • Inn at Norton • 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.