Can You Dig It Blog

Firms acquire Quakertown hotel

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

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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?

 

 

Brian Pedersen

Brian Pedersen

Reporter Brian Pedersen covers construction, development, warehousing and real estate and keeps you up to date on the changing landscape of our community. He can be reached at brianp@lvb.com or 610-807-9619, ext. 108. Follow him on Twitter @BrianLehigh.

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