Chicago-based AJ Capital Partners has made a $51 million bet that Ann Arbor 's dearth of downtown accommodations means big business for their new hotel.
Excerpt:
"Dennis Doyle, executive vice president of sales and marketing at the Ann Arbor Convention and Visitors Bureau, said the sale price can be attributed to strong demand for hotel space in the city, where occupancy rates, at 65 percent, are above the national average."
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