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Firms acquire Quakertown hotel

- Last modified: March 7, 2014 at 3:40 PM

Ayer Capital Advisors, an investment firm, and The Wankawala Organization, a hotel owner and management firm, today announced the acquisition of a 78-room Holiday Inn Express & Suites Hotel in Quakertown.

Ayer will work with The Wankawala Organization to manage the property. The existing portfolio owned and managed by the group includes nine select service hotels with a total of more than 1,000 rooms.

Ayer and Wankawala plan to acquire more than $150 million worth of brand select service hotels in the next 18 months.

To read more about the acquisition, check out this news release from PR Newswire:

http://www.prnewswire.com/news-releases/ayer-capital-advisors-and-the-wankawala-organization-acquire-a-78-room-holiday-inn-express--suites-hotel-in-a-suburb-south-of-allentown-pa-249003491.html

According to a published report from National Real Estate Investor in 2013, the firms bought a 127-room Holiday Inn Express hotel near Andrews Air Force in Camp Springs, Md., for $8.5 million.

 

Could the firms be eyeing more Holiday Inn hotels in the Greater Lehigh Valley?

 

 

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