Keyword: Huff, Niehaus & Associates
The sold hotels are a Courtyard by Marriott in Detroit, a Del Sol by La Quinta prototype in Madera, Calif., and a Best Western in Richmond, Ky.
The 97-room La Quinta Inn & Suites Louisville (Ky.) Airport & Expo and the 38-room Days Inn in Plymouth, Ind., traded hands on Dec. 18.
The 99-room Days Inn and Knights Inn located in Frankfort, Ky., as well as the 42-room Carefree Inn in Lebanon, Ohio, were both sold in early March.
The new owner of the three-story, 83-room hotel realized a return on investment immediately, with additional upside.
Hotel brokers expect the transaction market to remain healthy throughout 2016, but the effects of increasing supply are beginning to be felt.