O’Connell, Foley & Mahoney sell Comfort Suites Norwich, CT

$7,300,000
September 3, 2007
 

James F. O’Connell, Thomas P. Foley, Daniel J. Mahoney of OHG represented the owners, Orchard Park Associates LP in the sale of a 119 room Comfort Suites Norwich Hotel.

The five story 2.5 acre Property was acquired for $7.3MM / $61,344 per room and will remain a Comfort Suites product. The Hotel was marketed to a group of seasoned and well qualified prospective buyers within the northeast region. OHG was able to obtain numerous offers on the asset in a very short period of time, creating a highly competitive climate for the owners to select from.

Located just of Interstate 293 in central Connecticut, the Comfort Suites Norwich caters to clientele from Mohegan Sun Casino, Foxwoods Casino and numerous corporate businesses’ in the Norwich area. The new owners plan significant operations and marketing strategies that they have indicated will provide tremendous upside potential for the investment.

O’Connell Hospitality Group, LLC is a full service real estate company providing brokerage, finance and consulting services to the hospitality industry. It represents public companies, financial institutions, equity funds and private individuals across the United States with offices in Boston, Dallas and San Diego. For additional company information please visit www.oconnellhospitality.com or call (978) 777.8898.