Auction.com and HREC Investment Advisors were selected to market and sell five full-service hotels assembled by Orlando-based Alena Hospitality. The selection of Auction.com and HREC Investment Advisors was made by the court-appointed Receiver tasked with conducting an orderly liquidation of the assets of Alena Hospitality and affiliated individuals and businesses.
The five properties will be sold separately at Auction.com online auction events scheduled for July 20-22, 2015.
Auction.com and HREC Investment Advisors will work together to market and sell the five hotels, which include:
- The DoubleTree by Hilton Orlando East, a 246-room full-service hotel located near the University of Central Florida at 12125 High Tech Avenue in Orlando.
- A 290-room full-service hotel located at 400 W. Livingston Street in the heart of downtown Orlando.
- A 246-room full-service hotel located near the entrance to Lake Buena Vista Resort Village and Downtown Disney at 12490 Apopka Vineland Road in Orlando.
- A 148-room full-service hotel located at 50 Kenny Place in Saddle Brook, N.J., near Saddle River County Park and Westfield Garden State Plaza.
- A 272-room full-service hotel located at 500 Hamilton Boulevard in downtown Peoria, Ill., near Caterpillar’s world headquarters and the Peoria Civic Center.
Auction.com currently has a 97 percent close rate on hospitality properties. Within the first four months of 2015, the company closed 15 hospitality assets across the U.S. for a total of more than $78 million. Six of these properties sold for more than $5 million, with the April 22nd closing of the Baton Rouge Marriott for $21 million marking the largest hospitality transaction on the platform to date in 2015. These results demonstrate the effectiveness of the Auction.com platform for selling a variety of different hotel types – from select-service to large, full-service properties and boutique hotels.
There are 37 hotel properties coming up for auction on the platform within the next two months.