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Case Study

Sale of the Park Inn Izhevsk

​On behalf of Izhevsk-Otel LLC, Jones Lang LaSalle Hotels was appointed as exclusive advisor for the sale of the Park Inn Izhevsk. The 161-room hotel was completed and opened in 2008 in the center of Izhevsk - the capital of Udmurt Republic.

Jones Lang LaSalle Hotels launched a full-scale marketing campaign in mid-November 2010. Several local and regional investors responded with interest to consider this opportunity. Within three weeks, Jones Lang LaSalle Hotels signed NDAs with two potential investors. In early March 2011 the Hotels team advised the asset owner to enter an exclusivity period with a local professional investor who, after successfully completing asset due diligence made an offer in late May to acquire the hotel.
 
Jones Lang LaSalle Hotels completed the sale on July 05, 2011 to a Regional Hotel Chain. The Rezidor Group will continue operating the hotel under the Park Inn brand, however the new owner plans to shift from the franchise agreement to a full-fledged management contract with Rezidor.

For more information, please contact Marina Usenko, +7 495 737 8075.

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