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August 2008
THREE HOTEL DEALS
Washington, D.C. - The
The Hotel Advisory Group of Donohoe/Corfac International
announces three transactions. In Springfield, Virginia
a 194 room, Holiday Inn Express sold for $19.5 million.
Baywood Hotels purchased eight acres in Sterling, Virginia
for the future site of the Sheraton Dulles Town Center.
In Chicago, Illinois the 184 room, Hilton Oak Lawn hotel
was purchased by Rich Oak Lawn Hotel, LLC. Bill Moyer,
Director and Charlotte Seale, Associate of The Hotel
Advisory Group of Donohoe/Corfac International represented
Buyers in these transactions. Holiday Inn Express, Springfield,
Virginia
The 194 Room Holiday
Inn Express located in Springfield, Virginia
was purchased by Springfield Hotel Associates, LLC for
$19.5 million. Approximately $3million dollars will
be spent for the addition of a business and fitness
center, lobby renovations and to refurbish ballroom.
The hotel will be managed by Donohoe Hospitality Services,
DHS is a subsidiary of The Donohoe Companies, Inc. and
one of the largest independently owned hotel management
companies in the Washington, D.C. Metro area. Sheraton
Dulles Town Center, Dulles, Virginia
Baywood Hotels,
a fast growing Hotel Management and Development Company,
purchased 8 acres located in Sterling, Virginia. for
the future site of the “Sheraton Dulles Town Center”,
the Sheraton prototype will feature a 178 room full
service hotel with over 7,000 sq. ft. of meeting space.
Construction will begin Spring of 2008. The Hilton Oak
Lawn Hotel, Chicago, Illinois
The Hilton Oak
Lawn Hotel, located in the Village of Oak
Lawn, Illinois was purchased by Rich Oak Lawn
Hotel, LLC. A 184 room full service hotel with 20,000
square feet of conference space, an award-winning Restaurant,
business center, indoor pool and health club. The hotel
will undergo a significant upgrade program in the near
future. Following acquisition, Richfield Hospitality
headquartered in Denver Colorado, was named the property’s
management company.
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