Los Angeles – July 19th, 2016 – Infinity Realty Advisors announced today the acquisition of the Holiday Inn at the Los Angeles International Airport, a 405-key full service hotel. Infinity Realty Advisors acted as advisor to the Chinese buyer, US OCG, Inc. The 12-story hotel was constructed in 1973 and last renovated in 2008, and is currently running at occupancy rates over 90%. Situated on the corner of La Cienega Blvd and Century Blvd, the Holiday Inn services one of the busiest commercial airports in the world. The LAX Airport is currently undergoing an $8 billion dollar modernization Master Plan, which consists of projects including the Consolidated Rent-A-Car Center, an automated people mover, and a new Metro Station “The Holiday Inn LAX is a high-performing hotel, and will continue to benefit from the LAX multi-billion dollar development program, in addition, the new NFL Stadium, just a couple miles away, will certainly generate new hotel demand in the area”, stated Karin Chao, President of Infinity Realty Advisors. “We have an underutilized asset, a fantastic opportunity in a very compress market,” said Richard Alter, advisor to the buyer, “We look forward to working with US OCG to help their organization expand their footprint in the U.S.” The buyer, US OCG, Inc. is a subsidiary of Esong Group, a privately held enterprise from Chengdu, China. The Holiday Inn is their first U.S. acquisition.
For more information please see the link to an article in Bisnow This Week LA Deal Sheet
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