Paramount Lodging Advisors (PLA) has completed the sale of the Hampton Inn, located in the suburban Dallas market. Broker Associate, Subu Thiagarajan of PLA’s San Francisco office, exclusively represented the sellers in the transaction.
“Completing this transaction in a tertiary oil market is a tremendous win for PLA and the owners. Declining oil prices certainly presented a major challenge for the sales process. Fortunately, we identified early on the hotel was operating well below its potential with a 99.9% RevPar index, while the brand national average is 120.33%. Narrowing the investors’ focus on the upside potential allowed us to keep the investor committed and stay the course until closing,” stated Thiagarajan.