WASHINGTON, D.C., October 13, 2010—Hunter Realty, a leading national hotel investment advisory firm, today announced that it brokered the sale of the Holiday Inn & Suites, Front Royal, Va. at 111 Holiday Drive.
The two-year-old property is a new Holiday Inn & Suites prototype and was purchased by Jericho, N.Y.-based Navika Capital Group, LLC for an undisclosed price.
Located near Skyline Drive and the Blue Ridge Parkway, the hotel features mountain views, a Houlihan’s Restaurant + Bar, indoor pool and approximately 5,000 square feet of meeting space.
Kyle Stevenson (top right photo) of Hunter Realty’s Washington D.C office managed the transaction.
“We had a high level of interest and a multitude of offers presented by investors interested in acquiring the hotel,” he said. “We believe this reception from buyers indicates a significant amount of pent-up demand for quality hotels in excellent condition.”
“We see a slow but steady increase in listings, which is further evidence that hotel real estate continues to recover,” said Teague Hunter, (top left photo) President of Hunter Realty.
“All seven of our offices nationwide report strong buyer interest and an improving lending environment.”
Contact: Patrick Daly, Jerry Daly, media, (703) 435-6293, patrick@dalygray.com
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