Microtel Inn


Price:
  $2,995,000   
$2,550,000


Mumford Company, a full-service hotel advisory firm since 1978, was pleased to announce the recent short sale of the 97 room Microtel Inn of Erie, Pennsylvania. Mumford’s George Arvanitis (Chicago), Steve Kirby (Atlanta) Ed James (Newport News), and Justin Pinkard (Washington, DC) represented the seller, Starways Property, LLC. in this transaction, it’s the third transaction with this group. The purchaser was True Hospitality, LLC who plans extensive renovations and conversion to the Sleep Inn brand.

Arvanitis said, “the purchasers persistence helped us overcome several obstacles and successfully close this transaction. We were extremely pleased to represent the seller while helping the buyers close their first hospitality deal.”

Mumford Company worked in cooperation with MBA Hotel Brokers, a Pennsylvania Licensed Broker on this transaction.

About Mumford Company:

Mumford Company was established in 1978 to provide top quality hotel brokerage services and hasMumford Company, a full-service hotel advisory firm since 1978, was pleased to announce the recent short sale of the 97 room Microtel Inn of Erie, Pennsylvania. Mumford’s George Arvanitis (Chicago), Steve Kirby (Atlanta) Ed James (Newport News), and Justin Pinkard (Washington, DC) represented the seller, Starways Property, LLC. in this transaction, it’s the third transaction with this group. The purchaser was True Hospitality, LLC who plans extensive renovations and conversion to the Sleep Inn brand.

Arvanitis said, “the purchasers persistence helped us overcome several obstacles and successfully close this transaction. We were extremely pleased to represent the seller while helping the buyers close their first hospitality deal.”

Mumford Company worked in cooperation with MBA Hotel Brokers, a Pennsylvania Licensed Broker on this transaction a team of brokerage professionals with broad experience in all aspects of lodging acquisitions, development, consulting and operations. They represent sellers of most major brands in markets throughout the country, and their diverse background allows them to have an awareness of key opportunities within the marketplace, so they can accurately position their client's assets to maximize their investment results. The firm has an experienced sales team in regional offices across the country, including Newport News, Virginia; Atlanta, Georgia; Chicago, Illinois; Dallas, Texas, Washington DC, and Tampa, Florida. Their track record of success for buyers and sellers have made Mumford Company a leader for the last 41 years while upholding the values of the company from when it first began. For more information or to put the Mumford Company team to work for you, please contact Mumford at 757-873-0962, or by e-mail at sales@mumfordcompany.com