CBRE recently represented Auburn Classic Hotel Group, LLC in the sale of Baymont Inn & Suites, a 72-room hotel in Galesburg, Illinois, to Pat Patel. Nate Sahn, James Foxx and Pravin Boteju of CBRE Chicago represented the seller in the transaction.
“This hotel was developed and operated by the former ownership group since 1997, establishing the property as a premier lodging choice for guests traveling to Galesburg,” said Foxx, senior associate, CBRE Hotels. “Recently converted to a Baymont Inn & Suites from a Holiday Inn Express in 2016, the hotel needed minimal renovations allowing the new buyers to step in and take advantage of the growing Galesburg market as evidenced by the property’s increasing room revenue trend during the sale.”
CBRE Hotels is a specialized team within CBRE providing advisory, capital markets, investment sales, research and valuation services to companies in the hotel sector. CBRE Hotels is comprised of more than 385 dedicated hospitality professionals located in 60 offices across the globe.