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McNeill Hotel Investors Secures Capital; More Transactions…

NATIONAL REPORT—Hotel Business is tracking transactions. McNeill Hotel Investors, HREC and Atlas Hospitality Group were involved in recent deals. Here are the details:

McNeill Hotel Investors Secures $150M Capital Investment
McNeill Hotel Investors has entered into an agreement with an investment fund managed by Almanac Realty Investors, under which the fund has committed to provide up to $150 million of capital to McNeill. It is expected that the investment will allow McNeill to double the size of its portfolio through the acquisition, development, and management of select-service hotels using premium-branded flags from the major domestic franchisors located in secondary and select tertiary markets across the United States.

“Our relationship with Almanac will allow us to accelerate our existing strategy of strategic investments in quality select-service hotel properties in markets with excellent long term demand drivers such as universities, regional hospitals or drive-to destinations. Our growth will allow us to offer meaningful career growth opportunities for our valued staff and enhance our industry mission of people serving people,” said Phillip McNeill Jr., CEO of McNeill.

HREC Arranges Sale of the Ridgway-Ouray Lodge & Suites Ouray, CO
HREC Investment Advisors has arranged the sale of the 52-guestroom Ridgway-Ouray Lodge & Suites located in Ridgway, CO. The buyer, Ridgway Hotel Group LLC, led by Adam Dubroff, is a Ridgway resident with extensive hotel ownership experience. Mike Dubé, VP in HREC Investment Advisors’ Denver office, exclusively represented the seller during the transaction. The seller was the original developer of the Lodge, which was built in 1992.

Atlas Hospitality Group Arranges Sale of Los Angeles Area La Quinta Inn & Suites
Atlas Hospitality Group has arranged the sale of the La Quinta Inn & Suites Santa Clarita – Valencia in Stevenson Ranch, CA. Atlas EVP Oliver L. Shah and VP Robert J. Feist represented the seller. The buyer was a local private investor.

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