Two more hotels in the Interstate 95 and Route 128 areas are also under contract, O'Connell says, adding that he expects at least seven more hotels to trade in the suburban market before the end of the year. "In the last few months, occupancy and average rates have increased. Now there is a clear trend so investors are willing to step up and acquire these properties."

For $13-million, Affinity Golf Management of Charlottesville, VA acquired the Sheraton Ferncroft Resort at the Ferncroft Country Club from WPH Boston LLP. Earlier this month, Jiten Hotel Management of Brockton picked up the 158-room Holiday Inn in Randolph for $5.65 million. Peabody Hotel Group was the seller. A third hotel, the 191-room Holiday Inn, Newton, was acquired by Blue Hawk Investments of Newton. Groveland Associates LP was the seller; no price was disclosed. O'Connell and colleague Thomas Foley represented the sellers and procured the buyers in each of the transactions.