Hotel Brokers International announced today that broker-members Optimum Hotel Brokerage and ProCom Lodging Brokers, Inc. have closed on the cooperative sale of the Hampton Inn East Aurora, an 80-unit select-service hotel located in East Aurora, New York, a suburb of Buffalo. Optimum’s president, Joe McCann, and ProCom’s president Fred Ferrarini represented the seller, a California-based investment fund.
“This transaction was a case study for the power of HBI’s marketing strength in the US lodging market,” explained McCann. “The investment principals were located in California and Texas, and they needed proper representation to sell the New York hotel. Their decision to harness the power of Hotel Brokers International was crucial in leveraging the market and achieving such a high sales price. I was pleased to work with Fred and Steve Ferrarini of ProCom Lodging Brokers, Inc. on this transaction.”
Fred Ferrarini of ProCom Lodging Brokers, Inc. added, “This sale demonstrates once again, HBI members have the ability to handle the needs of nearly every hotel buyer and hotel seller from coast to coast. The broker members are all seasoned veterans of the hospitality industry. That is a required qualification.”
Hotel Brokers International is the world’s largest and oldest hospitality real estate organization, which has a rich heritage of experience and expertise in hotel real estate valuation, transactions and other essential services. Comprised of some 75 hotel real estate broker specialists, HBI provides the hospitality industry with its most powerful hotel real estate marketing force, creating greater visibility through a unified and inclusive advertising and marketing approach.
Optimum Hotel Brokerage’s principal is Joe McCann. In addition to being HBI’s current president, Mr. McCann is president of the Penn State Hotel and Restaurant Society, representing the more than 5,000 alumni of Penn State’s renowned School of Hospitality Management. Optimum Hotel Brokerage has endowed scholarships at the school to provide financial assistance to students demonstrating financial need at the school.