Detailed Information
Location
Property Highlights
- Fee Simple interest in the 109-room SpringHill Suites Pittsburgh Latrobe
- Property is institutionally owned and operated
- The property is being offered for sale at a substantial discount to replacement cost and unencumbered of debt and management
- Asset has strong in-place yield and +90 RevPAR allowing for the asset to be readily financeable in current debt markets
- Property is seeing material performance gains with year to date RevPAR up 12%
LOCATION SUMMARY
- Asset sits adjacent to Arnold Palmer Regional Airport – currently slated for a $22MM renovation and expansion
- Arnold Palmer Regional Airport is home to the annual Westmoreland Airshow which historically has attracted upwards of 100,000 guests annually
- Subject Hotel is the closest Marriott branded hotel to the Pittsburgh Steelers NFL Franchise training camp
- Asset is situated less than two miles from St. Vincent University with current enrollment of nearly 2,000 students and future home to the $20MM 76,000sf Dunlap Recreation Facility development
- Asset is located less than two miles from Latrobe Country Club – Arnold Palmer’s childhood course and home to the Pittsburgh Arnold Palmer Classic
- Property is readily accessible to US Route 30 with upwards of 30,000 cars passing the location daily
- Proximate to all broader healthcare demand including Latrobe Hospital and the AHN Hempfield Neighborhood Hospital
- Centrally located to all Westmoreland County demand including Frank Lloyd Wright’s Fallingwater Home, Great Allegheny Passage, Idlewild, Soakzone and Latrobe Brewing