Auction.com has expanded its highly successful hospitality business with the formation of a new division focused specifically on the sale of hotel properties. The company closed transactions on 26 hospitality properties during the fourth quarter of 2014 and a total of 76 hotels last year. Properties sold in 2014 included full-service Holiday Inns, Marriott Courtyards, Hampton Inns and Suites, Country Inns by Carlson, Comfort Inns, Red Roof Inns, Best Westerns, Microtel Inns and other nationally recognized brands. A sample of sellers utilizing Auction.com in 2014 included RLJ Lodging Trust, Westmont Hospitality, Peachtree Hotel Group, Liberty Group, Garrison and Linchris Hotel Corp.
“Our online auction platform has proven to be an extremely successful way to connect hotel buyers and sellers from across the country, and around the world,” said Auction.com vice chairman and co-founder Monte Koch. “We’ve decided to focus resources on the hospitality sector, and have assembled a team of industry specialists to meet the unique needs of buyers, sellers and brokers in this segment. This team is made up of hotel industry veterans who are laser-focused on hospitality real estate and truly understand the opportunities, challenges and nuances of transacting hotel properties.”
The group is led by Managing Director Anthony Falor, a 25-year hospitality veteran who specializes in acquisitions, development, franchising and hotel real estate transactions. He spearheads the group from Auction.com’s Atlanta office. Under Falor’s direction, the new team includes hospitality specialists who were carefully selected for their expertise, knowledge and ability to serve the unique needs of the lodging industry’s buyers and sellers.
“Hospitality is a truly unique subset of commercial real estate that attracts an incredibly diverse group of buyers, and Auction.com has attracted buyers from more than 100 countries worldwide, making it the ideal nexus for buyers and sellers to transact hotel properties,” Falor said. “As a successful hotel broker who has transacted billions of dollars of hotels over my career, I have personally used the Auction.com platform with tremendous success on the majority of my transactions over the past 24 months. I want to encourage more brokers to work with Auction.com as a partner, and utilize our platform as a way to enhance and grow their business.”