Joseph P. Kennedy, president of Crystal Investment Property, exclusively represented the Seller in the sale of the Trollers Lodge located in Depoe Bay, Oregon. The new owner is planning capital improvements including renovation of the owners quarters and possibly construction of additional rooms.
Crystal Investment Property, LLC, a member of Hotel Brokers International, announced the successful sale of the Trollers Lodge in Depoe Bay, Oregon. Crystal Investment Property, LLC, a licensed Oregon broker, exclusively represented the Seller in the sale. Joseph P. Kennedy, President of CIP, worked closely with the Seller, Buyer and Buyer’s Broker as well as the parties’ other professionals, to negotiate a mutually acceptable sale. The final sale price is confidential.
The 12-key property is sited on a bluff above the Pacific Ocean in the Whale Watching Capital of the Oregon Coast and offers sweeping views of Depoe Bay and ocean from most of the guest accommodations. Adjacent to Highway 101 and walking distance to shops and restaurants, the hotel is well located to take advantage of the attractions in the surrounding town. The hotel offers an outstanding mix of rooms for a variety of guests as well several managed units offering full house rentals for larger groups. The new owner intends to complete some capital improvements including a renovation of the owners’ quarters and possibly adding rooms.
Joseph Kennedy, President of Crystal Investment Property said, “Trollers Lodge is a unique and special lodging property which radiates pride of ownership throughout. We were pleased to have a strong level of interest during the period CIP marketed the hotel and we were especially pleased to find a strong, local Buyer who will continue the proud tradition of excellence in operations the Sellers have begun!”
Crystal Investment Property, a premiere 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.
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
Portland, Oregon
503.530.1316
joe@crystalip.com
Glenda J. Webb, Managing Director
Hotel Brokers International
Kansas City, Missouri
816.505.4315
gwebb@hbihotels.com