Holiday Inn Express Albany Downtown, NY

Listing Agents

Sean Banilivy
T | 516.456.7525
sbanilivy@paramountlodging.com

Omari Head
T | 410.406.7259
ohead@paramountlodging.com

Detailed Information
Property Highlights
  • Fee simple interest in the lender owned 135-room Holiday Inn Express Albany Downtown, NY offered for purchase through an REO sale
  • Lender took possession of the Subject Hotel in July 2022
  • The Holiday Inn Express, Albany is encumbered by a labor union
  • Available for individual purchase through the November 3rd auction event on Ten-X
  • Property is offered unencumbered of management and debt at a significant discount to replacement cost
  • Strong operational upside in purchasing hotel out of REO, completing the IHG PIP, and retaining the Holiday Inn Express brand for a long-term license
  • The hotel is strategically located in the Central Business District of downtown Albany and is the only IHG flag downtown less than one mile from the State Capitol building
  • The Subject Hotel is proximate to the Capital Complex which includes more than 159K SF of meeting and office space with an average annual visitation spend of more than $15M
  • Downtown Albany is home to multiple institutions of higher education including SUNY Polytechnic Institute, Russell Sage College and The University at Albany
  • The Subject Hotel benefits from its proximity to broader Albany demand including the New York Sate Capitol, Albany Med, Albany VA Hospital, Albany Nanotech Complex, Crossgate Mall, and Albany International Airport
  • Albany serves as a central location to nearby popular drive-to, leisure destinations including Saratoga Springs, Lake George, Hudson Valley, and The Catskills
Location