By Jack Stubbs
On Tuesday, May 1st, the La Quinta Inn & Suites in Auburn sold for $11.75 million, or approximately $167,857 per room, according to public records filed with King County. The buyer was Auburn Inn-Vestments LLC, an entity that shares the same address as Hospitality Associates, a family-owned hotel management and development company based in Spokane Valley. The seller of the property was S & B Hospitality LLC, an entity affiliated with Satpal Sohal based in Maple Valley.
Hospitality Associates did not respond to calls or emails regarding the transaction in time for the publishing of this story.
The La Quinta Inn & Suites, located at 225 6th St. SE., contains 70 rooms and was built in 2011. The two-star hotel offers a mix of queen, king and suite room options, with nightly rates ranging from $97 to $147, according to the hotel’s web site. Some of the property amenities include a swimming pool, business center and fitness center.
The property is approximately five miles east of Federal Way and roughly five miles south of downtown Kent. Additionally, the hotel is about half a mile from the Auburn Sounder Station and roughly two miles from The Outlet Collection, an approximately 1 million square foot shopping mall, and the Auburn Shopping Center. The hotel is also about one mile from access to the intersection of Washington State Route 167 and Washington State Route 18.
Hospitality Associates is a third-generation, family-owned business; the Wynia family entered the industry in 1959, according to the company’s web site. Over the years, the company has acquired 75 hotels in western states, Alaska and Hawaii, and focuses on all-suites, extended stay, and upper-midscale inn & suites hotels. The company offers a variety of services to its clients including customer referrals; marketing, advertising and sales support; construction and renovation; and customer hiring and training. The company has properties in Alaska, Idaho, Montana, Nevada and Oregon, among others. Hospitality Associates’ three other hotels in the Puget Sound region include the La Quinta Inn & Suites in Spokane; the La Quinta in Wenatchee; and a Quality Inn & Suites in Walla Walla.
The sales price of the La Quinta Inn & Suites—$11.75 million, or approximately $168,000 per room—is comparable to other sales posted in the region recent months. On March 21st, the Holiday Inn Express in Marysville, Washington, sold for $17.4 million, or approximately $174,000 per room. On March 12th, Seaview Hotel Investment LLC acquired the 105-room Sleep Inn SeaTac Airport Hotel for $17.6 million, or approximately $168,000 per room, from Seattle-based Che Investments LLC. And on February 1st, Lala Salama Hospitality Inc. sold the 152-room Hawthorne Suites hotel near SeaTac Airport for $17 million, or roughly $111,900 per room.