INTERGROUP Represents Buyer in 377-Room, 2-Hotel Purchase
January 26, 2005 - Tandy O. Lofland, president of Intergroup Realty, Inc. announced that the firm represented the private-investor purchaser in the recent simultaneous acquisition of the 157-room Hampton Inn and the 220-room Clarion Inn near Bush Intercontinental Airport in Houston, Texas. The seller was represented by Steckroth Hospitality Group, Inc. and the hotels are now operated by Richfield Hospitality. Brand affiliations with Hampton and Clarion will remain in place and upgrades and improvements will be made by the new owners.
The two hotels are adjacent to each other and share certain facilities including a large restaurant, lounge, over 20,000 square feet of meeting and banquet space, and other amenities. The proximity to the airport allows the hotel to serve that expanding submarket while also benefiting from recent positive trends in the Houston market for business, group, and leisure guests.