Intergroup Represents Buyer in 377-Room, 2-Hotel Purchase
Tandy O. Lofland, president of Intergroup Realty, Inc. announced that the firm represented the private-investor purchaser in the recent simultaneous acquisition of the 157-room Hampton Inn and the 220-room Clarion Inn near Bush Intercontinental Airport in Houston, Texas.
The seller was represented by Steckroth Hospitality Group, Inc. and the hotels are now operated by Richfield Hospitality. Brand affiliations with Hampton and Clarion will remain in place and upgrades and improvements will be made by the new owners.
The two hotels are adjacent to each other and share certain facilities including a large restaurant, lounge, over 20,000 square feet of meeting and banquet space, and other amenities. The proximity to the airport allows the hotel to serve that expanding submarket while also benefiting from recent positive trends in the Houston market for business, group, and leisure guests.
About Intergroup
Intergroup, formed in 1980, provides transaction and development services for hospitality and commercial properties in the U.S., Europe, the Caribbean and Latin America, with an emphasis on full-service, first-class hotels, resorts, and mixed-use developments. Company experience includes development, marketing, and management of The Parkway, a 195-acre mixed-use development next to Walt Disney World in Orlando, and transactions or projects involving such hotel brands as Four Seasons, Hilton, Sheraton, Holiday Inn, Crowne Plaza, Radisson, Hyatt, Homewood Suites, and Hampton Inn. Significant transactions include the recent sale of the 317-room Hilton Knoxville; 718-room Radisson Resort Parkway in Orlando; rebranding of the Four Seasons Hotel Buenos Aires, Argentina and Four Seasons Resort Carmelo, Uruguay; and establishment of a joint venture for the development of a new 200-room Hilton Garden Inn near San Diego, CA.
Currently celebrating its 25th anniversary, Intergroup has provided transaction and development services for nearly 14,000 units and over 60 properties worth well over $1 billion.
Logos, product and company names mentioned are the property of their respective owners.
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