Crystal Investment Property, LLC, a member of Hotel Brokers International, announced the successful sale of the Rodeway Inn and Suites in Pendleton, Oregon. Crystal Investment Property, LLC, a licensed Oregon broker, represented the Seller and Buyer in the sale. Joseph P. Kennedy, President of CIP, worked closely with the Seller, as well as the parties’ other professionals, to negotiate a mutually acceptable sale. The final sale price is confidential.
The 36-key property offered strong current cash flow and an outstanding future opportunity for prospective buyers. The Rodeway Inn, Pendleton, boasts a nice mix of rooms, central metro location, exterior corridors, good amenities for guests, and truck/bus parking. Many local, popular events and activities draw tourists year round to Pendleton, which is a convenient stopping point for travelers between Oregon, Washington and Idaho.
Joseph Kennedy, President of Crystal Investment Property said, “Located in an outstanding location close to the city center of this booming Eastern Oregon town, CIP was pleased to procure a strong and motivated Buyer to take over this terrific opportunity. We look forward to his continued success with the hotel and to the new opportunities for the Seller.”
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
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