Listing Agents
Eric Skipworth
312.248.4109
eskipworth@paramountlodging.com
Mike Schlictman
T | 803.920.4173
mikes@paramountlodging.com
Andrew Makhlouf
312.610.9067
amakhlouf@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the institutionally owned and third-party managed Marriott / Hilton limited service two property portfolio in Michigan
- Sale includes 81-room Hampton Inn Muskegon and the 83-room Fairfield Inn & Suites Muskegon
- Assets are offered for individual or portfolio sale through a traditional marketing process
- Assets are readily financeable with strong in-place yield and +$105 RevPAR
- Sale affords buyers the opportunity to purchase both assets and capitalize on strong operating synergies and economies of scale in owning two premium branded neighboring hotels
- Offered unencumbered by debt and management with the ability to relicense with Marriott and Hilton under new long-term franchise agreements
- Significant operational upside upon completion of PIP and transfer to regional ownership with stronger operating economies
- Assets are adjacent to and visible from Highway 31 and readily accessible via Interstate 96 with upwards of 80,000 vehicles passing the location daily
- Proximate to all local leisure demand including downtown Muskegon, 26 miles of Lake Michigan coastline, and the 3,000-seat Trinity Health Arena
- Home to the ~38,000 square-foot VanDyk Mortgage Convention Center which recently opened in 2021
- The Muskegon Channel handles over 1 million tons of freight per year contributing to Muskegon’s reputation as a major shipping center for the region
- Readily accessible to the broader Midwest including the Muskegon County Airport (MKG) and the Lake Express Car Ferry transporting passengers from Milwaukee, WI directly into downtown Muskegon