|Fairfield Inn Nashua Merrimack, located in Merrimack, New Hampshire|
NEW YORK—Jones Lang LaSalle Hotels announced the recent closing of two more northeast hotel transactions. The two hotel property sales, totalling 257 rooms and averaging over $18,000 per room, included the following assets:
The 115-room, Fairfield Inn Nashua Merrimack, located in Merrimack, New Hampshire, was sold out of receivership to Roedel Partners of Merrimack. The hotel will undergo a complete renovation and conversion to the Holiday Inn Express brand.
The 142-room Holiday Inn Select Clinton, in Clinton, New Jersey, was sold on behalf of 113 West Main Street Holdings to SNG Properties and A Hunts Mills Associates. The hotel has 8,400 square feet of flexible meeting and pre-function space – the largest meeting facility in its competitive set. The hotel will be completely renovated and reflagged as a Holiday Inn.
"We are pleased to find new owners for these assets," said Mark von Dwingelo, SVP for Jones Lang LaSalle Hotels. "These transactions continue the healthy momentum propelling us forward in the industry-wide recovery."