JOINT VENTURE ACQUIRES 78-ROOM HOLIDAY INN EXPRESS & SUITES HOTEL

QUAKERTOWN, PA. — Ayer Capital Advisors, an investment firm, and The Wankawala Organization, a hotel owner and management firm, have acquired a 78-room Holiday Inn Express & Suites Hotel in Quakertown, a southern suburb of Allentown, Pa. Ayer will work with The Wankawala Organization to manage the property. Ayer and Wankawala plan to acquire more than $150 million worth of select-service hotels in the next 18 months.