The Ehmer Group Structures Sale of Quality Inn Madera California
Richard Ehmer, President of The Ehmer Group, has negotiated the sale of the 93-room Quality Inn in Madera, California. The selling price was $3,050,000. The property will be converted from a Quality Inn to a La Quinta. The ownership has plans for significant updates and renovations throughout the building.
The Ehmer Group, a San Francisco-based member of Hotel Brokers International, announces the successful marketing and sale of the 93-room Quality Inn located at 317 N. G Street in Madera, California. The selling price was $3,050,000. Richard Ehmer, President of The Ehmer Group, negotiated the sale.
The five-story, interior corridor, full service Hotel sits on half a city block with 56,075 square feet of usable building space and visibility from Highway 99. There is a large front desk and lobby area, dining area, full bar, exercise room, business center, and swimming pool all located on the hotel grounds. The Hotel, at time of sale a member of Choice Hotels and Resorts, will undergo significant remodel with updates to comply with the new Del Sol brand at La Quinta Inns & Suites. The city of Madera is situated in the central valley of California at the entrance to the Sierra Mountain Range. The city’s population has nearly doubled in size over the past 10 years and is now just over 60,000 residents. The area is experiencing growth, as well as a strong lodging market. All key performance indicators, including occupancy, ADR and RevPAR, are up over 2016 numbers and trending positive in all expert forecasts.
“The sale of the Quality Inn Madera presents an incredible opportunity for the Buyer to rebrand and operate a newly flagged hotel in a burgeoning California market. After completion of the renovation, the hotel should see a major uptick in both ADR and Occupancy. The Ehmer Group was proud to represent our clients in this transaction,” said Mr. Ehmer.
Richard C. Ehmer is President and Principal Broker of The Ehmer Group – a full-service hospitality real estate investment and consulting firm, located in San Francisco, California. The Ehmer Group offers a full range of hospitality advisory services and assists a broad range of clients with the acquisition and disposition of hospitality assets in the United States and abroad. The Ehmer Group works extensively with key hospitality executives and principals to assist them with the marketing and sales of their assets, led by Mr. Ehmer, who has negotiated hundreds of successful transactions on behalf of his clients. The Ehmer Group represents the full spectrum of hospitality owners, including hospitality REITs, public hotel companies, gaming companies, insurance companies, hotel management companies, offshore investors, and multiple-to-single asset owners. Their experience covers resorts, full service hotels, boutique hotels, select service hotels, limited service hotels, casinos, development projects, and leasehold transactions. The firm also has expertise and experience with the negotiation of franchise agreements and hotel management contracts for their clients.
Founded in 1959, Hotel Brokers International members lead the industry in hotel real estate sales. HBI hotel brokerage specialists have successfully negotiated nearly 10,500 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, primarily in the upper mid-market to economy segments. This listing inventory can be found on the association’s website found at www.hbihotels.com. HBI is the 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 contact:
Richard C. Ehmer, President
The Ehmer Group
Glenda J. Webb, Managing Director
Hotel Brokers International