Former Red Lion Hotel Albany, NY

Listing Agents

Omari Head
T | 410.406.7259
ohead@paramountlodging.com

Bennett Webster
T | 312.339.3698
bwebster@paramountlodging.com

Detailed Information
Property Highlights

UNDER CONTRACT

  • Fee Simple interest in the in the 312-room Red Lion Albany through a court directed bankruptcy sale
  • Property is situated on 12.7 acres and is ideally well positioned for partial or full redevelopment 
  • Available unencumbered of debt / management with Sonesta / Red Lion interested in relicensing the property, or buyer may pursue multiple rebranding options available
  • Optimal time to purchase Red Lion licensed asset in light of recent Sonesta acquisition and expansive growth with Sonesta – now totaling 1,200 hotels making it one of the largest hotel companies globally
  • Strong operational upside in buying out of bankruptcy sale and transitioning operations out of receivership and absentee prior ownership
  • Ideally located within Wolf Road commercial corridor offering guests unique amenity offering and walking distance to numerous nationally recognized retail and restaurant establishments 
  • Readily accessible to Interstate-87 and all visitors to the Albany Airport corridor, with upwards of 125,000 vehicles passing the location daily
  • Proximate to all primary area demand generators including the New York State Capital, General Electric, Albany Nanotech Complex, Albany University, SUNY Polytechnic Institute, Harriman State Office Building Complex, Downtown Albany, and Albany International Airport 
  • Optimal time to be investing in the Albany Airport Corridor with ~$100MM of improvements underway to improve airport capacity and accessibility 
Location