Indianapolis, IN; October 1, 2009- Hospitality Sales Group (HSG) announced today that the firm successfully structured the sale of The Camelot Inn Best Western in Fairview Heights, Illinois. Ranked as one of the best limited service hotels in quality assurance for Best Western, this 55-room property was purchased by an investment group from outside the state for an undisclosed price.
“This property attracted many investors due to its great location, strong brand, and proximity to the St. Louis market. We were happy to see the immediate interest in the property within our hospitality contacts nationwide.” said Ron Burgett, HSG Founder, who marketed the hotel and structured the transaction with a Midwest bank.
There has been a tremendous slowdown in transactions over the past year and half, but HSG sees a gradual comeback on the horizon. “ Lenders are starting to call us again, and money is beginning to flow ;… caution---at a slower pace with tighter equity and credit requirements. HSG continues to market its portfolio of hotels and commercial properties to investors inside and outside the hospitality industry”, said Mr. Burgett.
HSG’s national database of buyers and sellers allows the company to quickly and efficiently market properties. HSG also works closely with a variety of hospitality firms to provide a full service client experience.
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