Hunter Hotel Advisors Announces Sale of Wyndham Garden in Gaithersburg, MD
Baywood Hotels plans major renovation to upbrand the hotel
ATLANTA--(BUSINESS WIRE)--Hunter Hotel Advisors announced today the sale of the 203-guestroom Wyndham Garden Hotel Gaithersburg, located minutes from Baltimore and D.C., one of the top five hotel markets in the country. In the transaction, Hunter exclusively represented the seller, a private investment group based in Wichita, Kansas.
“We executed a comprehensive marketing process that resulted in multiple offers”
The buyer, Baywood Hotels of Washington, D.C, is planning a major renovation to rebrand the hotel as part of a strategy to better serve the upscale D.C.-Baltimore market.
“We executed a comprehensive marketing process that resulted in multiple offers,” said Kyle Stevenson, senior vice president of Hunter’s D.C. office, who handled the transaction of the seven-story hotel located just outside the nation’s Capitol. “At Hunter, our marketing strategies are producing accelerated closings such as this one, which closed in just 60 days,” said David Perrin, a senior associate at Hunter. “The expanding economy and availability of financing continue to drive sales.”
Hunter’s seven brokerage offices specialize in select and full-service hotels and currently represent more than 100 hospitality assets nationally. Additional information, including current listings, is available at the company’s website, www.HunterHotels.net, or by contacting the Atlanta headquarters at 770-916-0300.
Hunter, with seven strategically-located offices, is one of the nation's leading providers of brokerage and capital markets advisory services to the hotel industry. Specializing in full and select-service listings, Hunter's team of seasoned professionals and the industry's brightest stars have leveraged their combined expertise to successfully advise thousands of clients through all economic conditions.