By Kate Snyder
In the Puget Sound region, another hotel has changed hands with the sale of the La Quinta Inn & Suites by Wyndham in Marysville. According to Snohomish County public records, the buyer was an entity affiliated with Jaye Enterprises Inc. and the seller was an entity affiliated with Sohal Hotels. The sale price was $26.5 million, or about $226,495 per room.
Located at 11430 38th Drive NE, the property sits on 3.07 acres and includes 117 rooms on five floors, according to Snohomish County public records.
Across the Puget Sound region, numerous hotels have changed ownership in recent months.
APA Hotel Co., Ltd. recently announced that it has completed the acquisition of the Hilton Seattle by APA Hotel USA, Inc., a wholly owned subsidiary of APA Hotel Co., Ltd. The purchase price was $68.8 million, or approximately $268,554 per room, according to King County deed records. The seller was an entity affiliated with Westbrook Partners, which purchased the hotel in 2016 for $60.3 million, or approximately $252,301 per room. The property will remain under the management of Stonebridge Hospitality Management and will be immediately renamed the Coast Seattle Downtown Hotel by APA.
In addition, several smaller acquisitions were recorded.
Earlier this year, the Bellevue Hampton Inn and Suites was purchased by an entity affiliated with Ignite Hotels for $28.7 million, or about $223,828 per room. The seller was an entity affiliated with OTO Development. The 128-room hotel is located at 11405 NE 2nd Place.
In Tacoma, HomeTowne Studios was purchased by Red Roof Tacoma-Hosmer for $11 million, or about $85,937 per room. The buyer was an entity affiliated with Sage Investment Group and the seller was an entity affiliated with Westmont Hospitality Group. The three-story hotel building, located at 8801 S Hosmer St., has 128 rooms and spans 4,800 square feet.
