Marcus & Millichap arranges sale of Arizona Best Western

Best Western Plus Kings Inn & Suites

Commercial real estate investment services firm Marcus & Millichap arranged the sale of the Best Western Plus Kings Inn & Suites, a 100-room hotel in Kingman, Ariz.

“The $7.1-million sales price equates to $71,000 per key, which is one of the highest prices-per-key for a Best Western, post-recession,” said Marcus Threats, an associate member of Marcus & Millichap’s National Hospitality Group. “The significant improvement in Southwest hotel sector performance we saw last year is being followed by additional improvements this year as leisure and business demand drivers grow more potent and construction pipelines remain manageable.”

Threats had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer of the property was AIH, a Utah-based limited liability company. Don Morrow, regional manager of Marcus & Millichap’s Phoenix office, is the firm’s broker of record in Arizona.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

The property is located at 2930 East Andy Devine Ave. in Kingman. The two-story hotel was built in 1965 and a wing was added in 1999. The property has an outdoor swimming pool, a business center, a breakfast area and meeting space.

Suggested Articles

The company reduced hotel operating costs 72 percent in the second quarter compared to the previous year.

The company will manage the Homewood Suites by Hilton New Braunfels, a 90-suite property in New Braunfels, Texas. 

The MAPP report lets hoteliers identify forward-looking performance trends across their own portfolios and other markets.