Hotel in State's Capital Brings in $9M

ANNAPOLIS, MD-Country Inn & Suites, Annapolis has gotten a new owner with LDM USA Inc.’s recent acquisition of the property form Annapolis Hospitality LLC in a $9 million deal. The 100-room property carries the address of 2600 Housely Rd. and sits off Rte. 50 and I-97, near the Maryland State Capitol, the US Naval Academy, as well as the city’s celebrated Chesapeake Bay waterfront area. According to the Maryland Division of Regional Development, 42% of the state’s 19.4 million visitors in fiscal year 2002 stayed in paid accommodations.

Donohoe Real Estate Services/CORFAC International orchestrated the deal on behalf of the buyer. “This transaction is a reflection of our firm’s expertise in hospitality sales and an affirmation of the local market’s strong underlying fundamentals,” Donohoe/CORFAC Hotel Advisory Group director Bill Moyer explains. Developed five years ago, this four-story Country Inn & Suites also features a fitness center, as well as nearly 1,400 sf of meeting space spread out over two facilities.