12/5/2008

Marcus & Millichap negotiates sale of Utah hotel with $7M asking price

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The La Quinta Inn & Suites, a 99-room hotel in Moab, Utah, has been sold for an undisclosed price. The hotel had a listing price of $7 million.

Christian Child and Mike Francis, two senior associates in the Salt Lake City office of Marcus & Millichap, represented the seller in the deal.

The three-story hotel is located at 815 S. Main St. and sits on a 2.44-acre lot. It contains a breakfast area, business center, meeting room and swimming pool.

"La Quinta Inn & Suites was an excellent opportunity for the buyer to acquire a well-maintained mid-scale hotel that has seen increases in revenue every year since 2005," Child said.

Address: 815 S. Main St., Moab, Utah

Size: 99 rooms

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Filed Under: Multi-Family

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