Crystal Investment Property, LLC, (“CIP”) a member of Hotel Brokers International, announced the successful sale of the Commodore Hotel in Astoria, Oregon. CIP, a licensed Oregon 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.
The Commodore Hotel, Oregon Coast’s premier boutique hotel, offers simple luxury in the heart of historic downtown Astoria. The Property has been updated to seamlessly blend historic character details, in 18 crisp, modernist rooms. A combination of suites with deep, soaker tubs and cabins with shared bathrooms appeal to a diverse traveler demographic. Interior corridor, and centrally located, the property includes a leased restaurant at street level. Located near a commercial port, and just 2 hours from Portland, and an international airport, this hotel attracts a variety of visitors.
Joseph Kennedy, President of CIP said, “We were pleased to generate multiple qualified, full-priced offers on this hotel within the first few weeks of marketing. The selected Buyer has a strong connection with the community and has structured future operations to bring major talent into the market. We are looking forward to seeing the property prosper in the coming years.”
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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