Wednesday, August 10, 2011

Hotel sold, may become Motel 6

"Optimum Hotel Brokerage, a regional firm active in the distressed-hotel and note-sale market, said it had brokered the bank sale of the 240-room Skyview Plaza Hotel on Penrose Avenue in Philadelphia. The buyer is a private-equity fund. "Preliminary plans indicate that it may be a Motel 6 because of its ideal location and market orientation to the economy and mid-price lodging market segment," said Joseph R. McCann, Optimum's president."

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