IRVINE, CA—Auction.com, LLC and HREC Investment Advisors have been selected to market and sell five full-service hotels assembled by Orlando-based Alena Hospitality. The selection of the two companies was made by the court-appointed receiver tasked with conducting an orderly liquidation of the assets of Alena Hospitality and affiliated individuals and businesses.
The five properties will be sold separately at Auction.com online auction events scheduled for July 20-22.
Auction.com and HREC Investment Advisors will work together to market and sell the five high-end properties. Three are located in Orlando, FL—the DoubleTree by Hilton Orlando East, a 246-room, full-service hotel near the University of Central Florida at 12125 High Tech Ave.; a 290-room, full-service hotel at 400 W. Livingston St.; and a 246-room, full-service hotel near the entrance to Lake Buena Vista Resort Village and Downtown Disney at 12490 Apopka Vineland Rd. The other two are a 148-room, full-service hotel at 50 Kenny Pl. in Saddle Brook, NJ, near Saddle River County Park and Westfield Garden State Plaza; and a 272-room, full-service hotel at 500 Hamilton Blvd. in downtown Peoria, IL, near Caterpillar’s world headquarters and the Peoria Civic Center.
“We are anxious to put our nationwide network of 15 offices to work on the sale of these five high-profile hotel properties, all of which boast prime locations and are already attracting a great deal of investor interest,” said Scott Stephens, senior principal and COO for HREC Investment Advisors. “Having partnered on deals with Auction.com in the past, I’ve been impressed by its proven ability to attract a large pool of potential buyers, along with its demonstrated speed of execution and certainty of close. I feel confident in our combined abilities to successfully and efficiently sell the Alena Hospitality Portfolio assets—and many more in the future.”
“The growing number of hotel asset sales through Auction.com proves the effectiveness of the platform and signals a growing appetite for these properties,” said Anthony Falor, managing director of Auction.com’s Hospitality Division. “We expect to see business continue to strengthen as 2015 progresses—and are proud to have been selected to sell the former Alena Hospitality properties alongside HREC Investment Advisors, a company which shares our commitment to conducting these transactions with the utmost efficiency and transparency.”