Archive for 'Marriott International'

White Lodging Completes Sale of 16 Marriott and Hilton Hotels

White Lodging Completes Sale of 16 Marriott and Hilton Hotels-Image via Wikipedia

White Lodging Services Corporation has closed a deal to transfer 16 of the company’s Marriott and Hilton affiliated hotels in seven states to Apple Real Estate Investment Trust Companies (Apple REIT). All properties will remain with White Lodging under long-term management agreements.

White Lodging’s relationship with Apple REIT began in 2005, with Apple REIT’s acquisition of the Marriott Hotel in Boulder, Colorado.  This current acquisition of the White Lodging properties boosts Apple REIT’s ownership to more than 240 hotels across the country.

“The transaction with Apple REIT, one of our industry’s most professional and prolific owners of premium branded hotels, provides White Lodging with additional capital to continue executing our strategic growth plan at a time when many of our competitors are merely trying to stay afloat,” said Deno Yiankes, president and CEO of investments and development at White Lodging.

Yiankes continued by saying, “The fact that our managed portfolio for Apple REIT has grown from one hotel initially to 31 hotels within five years is a direct compliment to the nearly 7,000 White Lodging associates and leaders who serve as the foundation for our continued growth on a daily basis.”

Apple REIT began in 1999 and is exclusively associated with two of the most recognized brands in the hotel industry – Marriott and Hilton.  Throughout the years, they have developed a successful formula for owning geographically diverse, high-quality hotels.

The hotels included in the Apple REIT/White Lodging transaction are the SpringHill Suites in Fishers, Indiana and Salt Lake City, Utah as well as the Residence Inns in Mishawaka, Indiana; Phoenix, Arizona; and Mettawa, Illinois. The Courtyard by Marriott properties that are included are located in Phoenix and Chandler, Arizona and in Austin, Texas.  Also part of the transaction are Hilton Garden Inn hotels in Mettawa, Warrenville and Schaumburg, Illinois; Austin, Texas; and Novi, Michigan. Apple REIT will also acquire Fairfield Inn and Suites in Austin, Texas and Chandler, Arizona and one Embassy Suites hotel in Tampa/Brandon, Florida.

White Lodging Services Corporation was established in 1985 and is headquartered in Merrillville, Indiana. White Lodging is a fully integrated hotel ownership, development, and operations company – a recognized leader that has defined and cultivated the ability to achieve consistent, sustainable growth among premium branded mid- to large-scale hotels across the country. Their current managed portfolio consists of 151 hotels in eighteen states and encompasses representation of the following leading brands: Marriott International, Hilton Worldwide, Hyatt Global, Starwood Hotels and Resorts, InterContinental Hotel Group, and Carlson Hotels Worldwide.

For more information about White Lodging, please visit www.whitelodging.com or call 219-472-2900.

SOURCE White Lodging Services Corporation

600 Foreclosed Homes to be Auctioned in Arizona

600 Foreclosed Homes to be Auctioned in Arizona

600 Foreclosed Homes to be Auctioned in Arizona-Image via Wikipedia

Sizzling deals await homebuyers, as a flood of 600 foreclosed homes heads to the auction block in Phoenix, Tucson and Kingman. America’s leading real estate auction firm, Hudson & Marshall will auction the properties November 9th-14th. In a market like Arizona, where housing values have plummeted over the past four years, buyers can score significant discounts on homes purchased through auction because banks are eager to move them off their books.

Valued from $59,000 to $1.6 million, there are a variety of homes for both investor and owner-occupant buyers to choose from and all the homes come with an insurable title. Buyers will be required to make a cash or certified check deposit of $2,500 for each property for which they are the winning bidder. All sales will close within 30-45 days and buyers may secure financing with the lender of their choice prior to closing; however, closing is not contingent upon financing.

“In today’s bruised housing market, it’s a good time for people buy. First time homebuyers or those with looking to trade up for more space can really get more for their money by purchasing homes at auction,” said Dave Webb, principal, Hudson & Marshall.

According to Realtytrac®, the Phoenix-Mesa-Scottsdale area posted the nation’s eighth highest metro foreclosure rate in the third quarter of 2010, with one in every 44 housing units receiving a foreclosure filing. Phoenix also reported 14,317 bank-owned homes during the third quarter, the most of any metro area.

All properties auctioned by Hudson & Marshall are sold “as-is” and buyers should inspect properties before placing any bids. Properties can be viewed during the open house scheduled Saturday, November 6th and Sunday, November 7th from 1:00pm-3:00pm or by contacting listing agents to schedule appointments. Complete property details and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

Homes will be auctioned on the following dates:

November 9th –Kingman (22 homes) at 7:00pm- Hampton Inn & Suites Kingman

November 10th –Tucson (94 homes) at 6:00pm-Tucson Marriott University Park

November 11th –Phoenix (110 homes) at 6:00pm-Camelback Inn, JW Marriott Resort

November 13th –Phoenix (201 homes) at 1:00pm-Camelback Inn, JW Marriott Resort

November 14th –Phoenix (175 homes) at 1:00pm-Camelback Inn, JW Marriott Resort

Prior to auction, buyers can purchase property online by visiting the website and clicking on the Bid-Now icon. Sellers typically respond to offers within 24 hours. This is a reserve auction, which means sellers have the right to accept, reject or counter any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.

Having sold over 80,000 homes for sellers in the past ten years, Hudson & Marshall, Inc. is the most experienced, trusted leader in the REO auction industry. The company’s accelerated sales process enables it to swiftly and efficiently sell large volumes of property in a way that minimizes expenses for sellers and maximizes return. Over the past five years alone, Hudson & Marshall’s total sales have topped $2.2 billion and the company anticipates selling another 15,000 homes in 2010.

About Hudson & Marshall of Texas, Inc.

H&M is America’s Premier Auction Authority. Our 45-year history combined with our continued process enhancements have allowed us to become one of the largest and most respected real estate auction firms in the United States. H&M has set the standard as a full service auction company and continues to consistently raise the bar for our industry. Our number one priority is to provide top-quality service to our customers. Buyers know they can count on H&M to provide value and service from the initial property offering through the closing process. This same approach provides sellers with a one stop single solution to the disposition of real estate assets. Sellers particularly appreciate H&M’s streamlined approach that handles their assets from marketing through closing and funding. The H&M process allows the seller to minimize expenses and maximize return. H&M has assisted clients ranging from individuals to large, medium, and small corporations, government agencies, and financial institutions. Since 1999, H&M has sold and closed over 80,000 homes throughout the country. See more about H&M at www.hudsonandmarshall.com.

SOURCE Hudson & Marshall of Texas, Inc.

CONTACT: Crystal Wright, Baker Wright Group, +1-202-829-0848, for Hudson & Marshall of Texas

Web Site: http://www.hudsonandmarshall.com