The Marcus Corporation completed the previously-announced sale of the Hotel Phillips in Kansas City, Mo., to an affiliate of Chicago-based Arbor Lodging Partners. Terms of the transaction were not disclosed.
The sale is consistent with the company’s overall corporate strategy of constantly evaluating all of its owned hotels to ensure it is maximizing shareholder value, while also focusing on growth through new management contracts. The Marcus Corporation successfully owned and managed the 217-room Hotel Phillips for the past 14 years.
Jameson and Company of Downers Grove, Ill., in cooperation with HotelBrokerOne, assisted The Marcus Corporation in the transaction.