Business
GTM Hospitality, LLC and LIG Assets, Inc. Announce Acquisition of the Wyndham Baton Rouge Hotel
GTM Hospitality, LLC and LIG Assets, Inc. Announce Acquisition of the Wyndham Baton Rouge Hotel.
About this update from Lig Assets, Inc.
[{"type":"text","content":"\n\n\n\nGTM Hospitality, LLC and LIG Assets, Inc. Announce Acquisition of the Wyndham Baton Rouge Hotel\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nGTM Hospitality, LLC and LIG Assets, Inc. Announce Acquisition of the Wyndham Baton Rouge Hotel\nPR Newswire\nDALLAS, May 6, 2014\n\n\n\nDALLAS, May 6, 2014 /PRNewswire/ -- GTM Hospitality, LLC and LIG Assets, Inc. (PK: LIGA) announce the acquisition of the Wyndham Baton Rouge Hotel.  Led by GTM, in its latest addition to its portfolio, the property boasts a unique financial structure that includes LIG Assets, Inc.\n\nThe property is an 81 unit hotel located in vibrant Baton Rouge, the Capital City of Louisiana. The market is bolstered by the oil and gas industries as well as being located closely by Louisiana State University. With transient, group and long term contract business frequenting the area, the Wyndham Baton Rouge is a great fit for GTM and LIGA.\n\nLed by long time hotelier Marty McDaniel, GTM Hospitality, LLC is a fully integrated, full service Management and Development Company with an expanding portfolio of owned and managed properties based in Panama City, Florida.  President and CEO McDaniel states, \"This acquisition represents the first of many with LIGA and our capital partners.\n\nMcDaniel continued, \"This transaction is a testament to creative finance, strong leadership and a deep understanding of the lodging industry. There is a strong synergistic presence between our two companies and we have developed a pipeline of properties that fit financially and strategically for both of us,\" said McDaniel.\n\nBased in Dallas, TX, LIG Assets, Inc. is a publicly traded real estate company focused on residential and commercial real estate transactions and growing its hospitality portfolio. \"We are very excited to be in the hospitality space with GTM,\" said Jeff Love, President and CEO of LIG Assets, Inc. \"This deal represents the first of many that are planned between our companies.\"\n\nLove continued, \"We have created a successful acquisition model that will allow us to grow together ove...