Auction.com iPad App Used By Bidder To Buy Best Western Hotel For $2.2 Million
Winning bidder first to purchase a commercial property using Auction.com's iPad App
IRVINE AND SILICON VALLEY, Calif., Jan. 12, 2015 /PRNewswire/ -- Auction.com, LLC, the nation's leading online real estate marketplace, today announced the $2.2 million sale of the Quail Hollow Inn, a Best Western property, in Benson, Arizona to Kalthia Group Hotels, a growth-oriented hospitality management company. Himanshu Sarvaiya, vice president of development with Kalthia Group Hotels, also became the first bidder to win a commercial real estate auction using the Auction.com iPad app.
"A large portion of my job is spent outside my office," said Sarvaiya. "With the Auction.com app, I can bid on properties our firm is interested in, and never miss a deal because I'm away from my computer."
Launched in June 2014, the Auction.com mobile app allows buyers to locate and bid on commercial and residential real estate from virtually anywhere. The app fully integrates Auction.com's platform and iPad's technical infrastructure to produce an entirely new user experience. Since its launch, the app has been downloaded nearly 100,000 times and has delivered 81 winning bidders on residential properties.
"Real estate isn't just moving online, it's increasingly moving onto mobile devices," said Jeff Frieden, CEO and co-founder of Auction.com. "We created our iPad app to make it easier for people everywhere to buy and sell real estate, and its popularity certainly confirms our belief that the future of real estate is going to be driven by smart technology solutions."
The company, which was named one of AlwaysOn's OnMobile Top 100 Companies for 2014 and is a Mobile Excellence Awards finalist, has just released an iPhone bidding app and is in the process of developing a comprehensive, multi-platform mobile product suite.
Located at 699 North Ocotillo Rd. near the Kartchner Caverns State Park and the San Pedro Golf Course, the Quail Hollow Inn is comprised of four buildings, a single-story building serving as the office and lobby with the three remaining buildings consisting of one single-story building and two two-story buildings configured for a total of 83 rooms. Amenities include an outdoor pool and spa, exercise facilities and a 24-hour business center. Renovations to the parking lot and interior spaces were completed in 2014, prior to the auction.
The Auction.com iPad app can be downloaded for free from Apple's App Store or at www.auction.com/ipad. To learn more about buying and selling hospitality assets on Auction.com, please contact Anthony Falor, managing director for hospitality, at (973) 727-0314 or [email protected], or visit www.auction.com/sell.
About Kalthia Group Hotels:
Since its formation in 1991, Kalthia Group Hotels has successfully developed, acquired, and managed full-service, extended stay, and limited feature hotels. The company's various hotel partnerships have produced winning combinations in markets throughout the country. Kalthia Group Hotels is a growth-oriented hospitality management company. However, philosophically Kalthia Group Hotels differs from most hotel management companies is that is, primarily, manages hotels in which Kalthia Group Hotel's principals and/or partners have ownership positions. Therefore, the company has a more significant interest in all aspects of service excellence, product quality, and property performance than other hospitality management groups. For more information, visit www.kghotels.com.
About Auction.com:
Auction.com, LLC, is the nation's leading online real estate marketplace. Founded in 2007, the company has sold over $26 billion in residential and commercial real estate assets. Auction.com has over 900 employees and headquarters in Irvine and Silicon Valley, California as well as offices in Austin and Plano, Texas, Atlanta, Denver, New York and Miami. Visit www.auction.com for more information.
SOURCE Auction.com, LLC
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