Ault Inc. listing for sale four recently renovated hotels in Midwest for $100M

Ault Alliance’s wholly owned subsidiary Ault Global Real Estate Equities or AGREE, plans to list for sale its four recently renovated Midwest hotels, the Hilton Garden Inn in Madison West, the Residence Inn in Madison West, the Courtyard in Madison West, and the Hilton Garden Inn in Rockford. The decision to sell the hotels follows the decision to also list the St. Petersburg property and is driven by the company’s desire to focus on its core businesses, including the crane rental business, the California licensed lender, and data center operations. The company plans to use the proceeds from the sales of the hotel properties to pay off debt and commit more capital to its core businesses. AGREE intends to seek approximately $100M for the four hotels. Through its partnership with the hotel management firm, GF Hotels & Resorts, the company completed major renovations at all four properties.