IRVINE, CA—GlobeSt.com ThoughtLeader Auction.com LLC and HREC InvestmentAdvisors have sold five hotels formerly owned byAlena Hospitality, including three in Orlando. Theproperties went on the virtual auction block earlier this month;Alena owner Nik Patel was forced to sell theportfolio after being arrested on loan fraud charges this pastSeptember.

All five properties attracted multiple parties to the July 23online event, with 65 registered bidders making more than 250 bids.Combined, the hotel sales generated nearly $87 million; the buyerswere not identified.

In Orlando, the Alena portfolio included the DoubleTree byHilton Orlando East, a 246-room full-service hotel that sold for$30.05 million; a 290-key property in Downtown Orlando that tradedfor $12.65 million and which published reports say formerly flewthe Renaissance by Marriott flag; and another full-service propertylocated near the entrance to Lake Buena Vista Resort Village andDowntown Disney, with a winning bid of $27.85 million. All threeproperties came in well above the opening bids.