Crystal Investment Property, LLC, (“CIP”) a member of Hotel Brokers International, announced the successful sale of the Rodeway Inn & Suites in Long Beach, Washington. CIP, a licensed Washington brokerage, represented the Seller in the sale. Joseph P. Kennedy, President of CIP, worked closely with the Seller and Buyer, as well as the parties’ other professionals, to negotiate a mutually acceptable sale. The final sale price is confidential.
Rodeway Inn & Suites hotel is a 42 key, economy franchise hotel ideally situated 2.5 blocks from both the beach and the boardwalk. Accessible from Highway 101, this hotel is centrally located downtown near to restaurants, shops, and a variety of outdoor activities. Just 90 minutes from Portland Metro area, amenities include Seasonal Pool, Guest Laundry, High-Speed Internet (Wifi), and a mix of Kitchenette, Fireplace, & Pet-Friendly Rooms. The hotel features 2 Owner’s Quarters and an additional apartment.
Joseph Kennedy, President of CIP said, “The Rodeway Inn in Long Beach was only on the market for two weeks prior to receiving a full price offer from a nearby hotel owner. The economies of scale and opportunity to expand the number of keys in an existing marketplace made this property a perfect fit. The property has been taken out of the franchise and will be repositioned as a boutique hotel with an exceptional presence in the center of a resort beach town.”
About Crystal Investment Property, LLC
Crystal Investment Property, a premier hospitality investment advisory and brokerage company located in the Pacific Northwest, maintains the most cutting-edge technological, online and social media presence as well as a full range of traditional and web-based marketing reaching local, regional, national and international clientele. The firm’s core services of hospitality asset acquisition/disposition are supported by innovative and creative solutions to maintain position as the most active and successful hotel broker in the region. Crystal Investment Property represents the full spectrum of hospitality real estate owners and their experience covers all hospitality assets types, including full service hotels, boutique hotels, select service hotels, limited service hotels, as well as development projects, and leasehold transactions. Crystal Investment Property may be accessed online at www.crystalip.com.
About Hotel Brokers International
Founded in 1959, Hotel Brokers International members lead the industry in hotel real estate sales. HBI hotel brokerage specialists have successfully negotiated more than 10,000 hotel real estate transactions and consistently account for the largest share of all select-service and economy hotel sales in the United States. The organization’s database currently comprises more than 100 property listings and the HBI website attracts site visitors from around the world. Founder and host of the popular Hotel Investor’s Marketplace Webcast, HBI also developed the Certified Hotel Broker professional designation program. In addition to hospitality real estate advisory services, HBI offers affiliate membership to professionals in allied fields, including franchising, lending, appraisals and investment services. For more information about HBI’s hotel listings or to become a broker or affiliate member, visit www.hbihotels.com.
For more information contact:
Joseph P. Kennedy, President
Crystal Investment Property, LLC
Glenda J. Webb, Managing Director
Hotel Brokers International
Kansas City, Missouri
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