Huff, Niehaus & Associates, a member of Hotel Brokers International, successfully closed the sale of the Microtel Inn & Suites Florence/Cincinnati Airport, located in Florence, Ky.
The three-story, 83-room hotel was sold on Dec. 28, 2017, for $3.9 million. The hotel is located off I-75/71 in Florence, minutes from Cincinnati/Northern Kentucky International Airport and roughly 15 miles from downtown Cincinnati and riverfront attractions.
The new owner was able to acquire a Wyndham-branded hotel in a growing market, and realized a return on investment immediately, with additional upside.
Brandt Niehaus, president of Louisville, Kentucky-based Huff, Niehaus & Associates, is a licensed broker in Alabama, Indiana, Kentucky, Massachusetts, Ohio and Tennessee. He earned the Broker of the Year award in 2014 and is an 11-time recipient of Top Regional Broker recognition. Since 1975, Huff, Niehaus & Associates has evolved into a full-service real estate firm providing many services exclusively to the hospitality industry and lenders, including broker’s opinions of value, expert witness testimony, development consultation and brokerage services.
Founded in 1959, Hotel Brokers International specialists have successfully negotiated more than 10,000 hotel real estate transactions. The organization’s database currently comprises more than 100 property listings and the HBI website attracts site visitors from all over the world.