Hospitality Business for Sale in Jamestown, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Hospitality Business
  • Location: Jamestown, NY 14701
  • Year built: 1979

Description

Marcus & Millichap is pleased to present the exclusive opportunity to acquire the DoubleTree by Hilton Jamestown. The 2019, over $14 million redevelopment of the eight-story hotel featuring 147 rooms is being offered fee simple, unencumbered by management, through a Call for Offers. The seller is an institutional owner, and the transaction represents a bank short sale at a value significantly below redevelopment and replacement cost. Upon transfer of ownership, the property will receive a new long-term relicense with Hilton upon completion of a Soft PIP. The hotel offers significant upside potential through optimized revenue management, including a reducing ADR to drive increased occupancy and optimize RevPAR. The Doubletree Jamestown Generates revenues exceeding $3.8 Million providing investors a solid platform to increase NOI through hands-on Managment. The hotel represents a like-new Upper Midscale Hilton-branded product at an attractive basis. The seller is highly motivated and will consider all offers. Investment Highlights: • Call For Offers Short Sale Offered at Significant Discount to Development Cost • Long-Term Hilton Relicense Soft PIP • 2019 Over $14 Million Building Redevelopment • Institutional Seller Upside Through ADR Recalibration and Exp. Reduction

Market Context

This hospitality in Jamestown, NY is listed for sale. The building dates to 1979. It has been on the market for 67 days. Compare it against other hospitality listings for sale in Jamestown, NY — <a href="/search/sale/hospitality/new-york/jamestown">view the full market</a>.

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