Country Inn & Suites
Hotel
Atlanta, Georgia
This 91-room hotel is located immediately off Interstate 20 next to the Six Flags over Georgia amusement park.
Euram has acquired this hotel in a joint venture with the Banyan Tree Companies, a very experienced hotel owner/operator with more than 30 years experience in the hotel business. Banyan Tree put up 60% of the equity and Euram provided the remaining 40% equity.
This hotel was purchased from a bank after it foreclosed on the asset. The price paid was approximately 50% of replacement value and will provide substantial cash flow from day one.
Banyan Tree is immediately repositioning the rate structure to a higher level as well as implementing operational changes that will result in savings of at least $125,000 per year. The intent is to maximize cash flow from operations and re-position the hotel for a sale in 4 years.