The Tennessee hotel for sale is a Drury Inn & Suites located in Memphis right off of highway 40. This unencumbered hotel allows for attractive rebranding options. It is priced significantly below replacement cost with a competitive set up of 23.7% for trailing 12 months through July 2011. This five-story hotel property was originally built in 1994, but it was renovated in 2004. It has five floor, 118 guest rooms and 115 parking spaces.
Adam Montufar focuses on limited-service hotel transactions in the Midwestern United States with in-depth knowledge of the hotel markets in Illinois, Iowa and Missouri. Previously, he was an associate broker with NAI Global Hotels. He began his career in consumer banking and lending services with Wells Fargo in West Des Moines, Iowa. Mr. Montufar received his Bachelor of Arts in Economics from the University of Iowa in 2003 and is a candidate for the Certified Hotel Broker designation.