INDIA-BASED HUMPTY HOLIDAYS Inc acquired the 158-key Grand Vista hotel in Grand Junction, Colorado, from Orange Coast Investments Inc for $8.5 million. The deal was brokered by CBRE Group Inc.
The 1982-built, 6-story hotel is in the Horizon Drive District near Matchett Park, Colorado National Monument and James M. Robb – Colorado River State Park. Other nearby attractions include the Museum of Western Colorado and Dinosaur Journey Museum, CBRE said in a statement.
California-based Orange Coast is led by President John Marconi. Tamil Nadu-based Humpty Holidays is led by CEO Raj Kumar.
Dallas-based CBRE is led by chair and CEO Robert Sulentic.
The CBRE team included Executive Vice Presidents Larry Kaplan and Mark Darrington, Senior Associate Christy McDougall, Investment Sales Manager Kristen Johnson and Associate Zak Brodstein.
“This transaction represented the third hotel CBRE sold for this ownership group in Colorado over the last 12 months,” said Kaplan. “We appreciate their trust in our team and expect that the buyer will enjoy great success with the hotel.”
Separately, Frontera Hotel Group acquired the 119-key TownePlace Suites by Marriott Houston Hobby Airport in Houston. The lender-driven deal is the firm’s first investment and management project in the Houston MSA.
