Hotel Source advised the hotel owner of buyer concerns about a forthcoming Holiday Inn Express PIP. In order to maximize price, the owner agreed to place a limit on the buyer’s financial exposure to the PIP cost as part of the purchase and sale agreement. With this objection removed, the buyer was able to move forward.
Once the contract was executed, the owner and Hotel Source assisted the hotel buyer with due diligence items, including the franchise license. The total PIP cost was minimized, and the buyer was able to keep the total project cost within budget, while the seller did not have any financial obligations regarding the PIP.