Hotels for Sale

TownePlace Suites Harrisburg Hershey, PA

Address:
Harrisburg, Pennsylvania
Description:
  • Fee-simple interest in an institutionally owned and third-party managed 107-room TownePlace Suites Hershey Harrisburg offered at a discount to replacement cost
  • High yield investment with forecasted year one double-digit cash on cash returns
  • Year-to-date RevPAR growth of 25%, with current in-place RevPAR of approximately $80 as property continues to stabilize post recent renovations
  • Available unencumbered of debt and third-party management with ability to retain the TownePlace Suites brand for a new long term license
  • Moderate change of ownership PIP expected with approximately $1.7MM ($16k per key) of total renovation completed since 2015
  • Adjacent to Interstate 83 (the Capital Beltway) with upwards of 60,000 vehicles passing the intersection daily
  • Optimal location in downtown Harrisburg with easy accessibility to the State Capitol Complex and Pennsylvania Farm Show Complex
  • Within walking distance of numerous full-service nationally recognized restaurants
  • Proximate to all broader Harrisburg area demand, including: Hersheypark, Whitaker Center for Science and the Arts, Pennsylvania Farm Show, and the National Civil War Museum

Listing Agents

Omari Head
T: 773.315.5704
Email

Bennett Webster
T: 312.239.0560
Email

Brent Clemens
T: 312.402.2959
Email

Scott Griemsmann
T: 415.419.5765
Email
BRE #01336236

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