ATLANTA -- Hodges Ward Elliott, Inc. (HWE), the nation's premier hotel brokerage and investment banking firm, today announced that it represented Vista Host in the sale of three properties to an undisclosed buyer on the last day of 2008; Hampton Inns in Pittsburgh, Pa., Ft. Lauderdale, Fla. and Jackson, Tenn. HWE represented Vista Host on a fourth property, the Courtyard by Marriott in Jackson, Tenn. earlier in December, and additional properties from the same portfolio are scheduled to close early in 2009.
"Savvy, long-term hotel investors with solid financial resources and strong relationships with lenders take full advantage of the real estate cycle, selecting the most opportune times to acquire," said Bill Hodges, principle of HWE. "From a historic perspective, we are entering the initial phase of a major hotel acquisition opportunity period that holds significant upside potential. Over the next five years, these strategic buyers will generate significant returns."
Founded in 1975, HWE is the world's leading hotel brokerage and investment firm, completing more than $20 billion in hospitality real estate and investment banking transactions over the past 11 years.
CONTACT: Jerry Daly or Chris Daly, (703) 435-6293