Huff, Niehaus & Associates, a Louisville, Ky., based member of Hotel Brokers International, closed two hotel transactions at the end of 2018. Both transactions occurred on Dec. 18, and were the 97-room La Quinta Inn & Suites Louisville (Ky.) Airport & Expo and the 38-room Days Inn in Plymouth, Ind.
Both hotels were exclusively listed by Huff, Niehaus & Associates, and Brandt Niehaus, president of the company, represented the sellers in the transactions.
The La Quinta Inn & Suites was sold to Third Door Hotel Group, a local hotel ownership group. The transaction was conducted in conjunction with Ten-X, an online real estate auction company, and the hotel was auctioned for $6.3 million.
The Days Inn is located near Plymouth’s Industrial Park and the city's downtown business district. The hotel sold to a first-time hotel owner/operator, Ganesh Hospitality, for $1.8 million.
“The many manufacturing facilities, recreational and festival activities provide ample market generators for the new owner to aggressively obtain the Days Inn’s fair share of the market,” Niehaus said in a statement.
Founded in 1959, Hotel Brokers International members lead have successfully negotiated more than 10,000 hotel real estate transactions, and the organization’s database currently comprises more than 100 property listings.