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ASAE ASAE ) ASAP International Holdings Arranges Acquisition of Crowne Plaza in Danbury, CT
1 days 20 hours 25 minutes ago - DJNF
LOS ANGELES, CA / ACCESSWIRE / July 23, 2014 / ASAP International Holdings ("ASAP") (OTCQB: ASAE) announced today that it has successfully advised on the acquisition for Urban Commons, LLC of the 243 room Crowne Plaza Danbury Connecticut which closed on July 17, 2014, Hotel Assets Group represented the Seller, Jesta Hospitality CT, LLC ("Jesta Hospitality").
The fully remodeled 243 room hotel features elegant and chic guest rooms combined with nine meeting rooms and three ballrooms with a total 26,000 square feet. The hotel is conveniently located just one hour from New York City and within a few minutes from several airports.
Mr. Frank Yuan stated, "The Crowne Plaza Danbury is in a great suburban location that is attractive to both business and leisure travelers. Investors are attracted to the Northeast because of the irreplaceable affluent location and stable cash flow." Yuan also commented "We really appreciate every party in the transaction, including Urban Commons, Jesta Hospitality and Hotel Assets Group. Their cooperation made the transaction smooth and successful."
CEO Frank Yuan and CIO Jerome Yuan led the ASAP team on the transaction. ASAP is one of the most active hotel buyers in the U.S. for the past three years, constantly searching for more hotels and will remain active in the hospitality buy side for the foreseeable future.
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