Crystal Investment Property, LLC, (CIP) a member of Hotel Brokers International, announced the successful sale of The Marigold Hotel in Pendleton, Oregon. CIP, a licensed Oregon brokerage, represented the Buyer and 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.
The Marigold Hotel is a 47 key, 2-story, exterior corridor property with strong financials and excellent cash flow. Completely updated in 2018, this historic hotel features over $560,000 in Capital Improvements and an attractive mix of guest rooms. Located in a high traffic location with tons of potential, the hotel has excellent proximity to downtown restaurants and events, along with highway access and a designated parking garage. This property also features Owners Quarters and on-site commercial kitchen providing huge upside potential.
Joseph Kennedy, President of CIP said, The Marigold Hotel is a terrific hotel in a great tourist destination town. The new owners bring tremendous energy and enthusiasm to the operations and we are pleased to have been able to bring the Buyer and Seller together in this successful transaction.
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 firms 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 organizations 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 Investors 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 HBIs 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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