News: Front Section
Posted: October 14, 2016
Wason Associates brokers sale of two hotels totaling $2.77 million
Earle Wason, Wason Associates HospitalitySturbridge, MA Wason Associates Hospitality Real Estate Brokerage Group completed the sale of two properties, the Days Inn Sturbridge and The Berkshire Hills Country Inn, located in Williamstown, Mass.
The acquisition of The Days Inn Sturbridge by Sturbridge Investment, Inc. was finalized on June 9 for a sales price of $2.05 million. The three-story property located off I- 84, is within minutes of historical Old Sturbridge Village. The transfer of the 81-room facility, and its portion of the 30.71-acre lot in which it is situated and currently shares with a Pilot Truck Stop, included the hotel’s existing franchise agreement with Days Inn, established in May 2012 for a 15-year term.
Days Inn Sturbridge - Sturbridge, MAThe Berkshire Hills Country Inn, situated on over two acres, was bought by Ronald Smith for a final purchase price of $720,000. The sale closed on July 20. The small resort property features a 21-room guest facility as well as a three bedroom, two bath owner/property manager residence.
“We are proud to have been able to oversee the successful transfer of these two ideally-situated properties,” said Earle Wason, CCIM and president of Wason Associates. “Whenever we can use our years of real estate expertise to ensure that a sale is mutually beneficial to all parties involved, we are reminded of our commitment to the continued success and vitality of our region, and to the hospitality industry at-large.”
Wason Associates is a New England-based brokerage firm comprised of professionals who bring a unique combination of financial, banking, and real estate expertise to each transaction. President, Earle Wason, CCIM has over 30 years of experience in the hospitality real estate market. Offering advisory services to both buyers and sellers, Wason Associates provides a strategic, client-centric approach to problem-solving, financial advising, and transaction execution.
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