Paramount Lodging Advisors (PLA) Executes Sale of TownePlace Suites by Marriott, Grove City / Mercer, PA
Paramount Lodging Advisors (PLA) is pleased to announce the successful sale of the TownePlace Suites by Marriott Grove City / Mercer, a 96-room, extended-stay hotel located in Mercer, Pennsylvania. The transaction was led by Principals Andrew Makhlouf and Mike Schlictman.
Property Overview
The fee-simple asset, originally developed in 2016, operates under the TownePlace Suites by Marriott brand and is positioned within the resilient extended-stay segment. The property was delivered unencumbered of management and offers the opportunity for a new long-term Marriott franchise agreement, subject to completion of a change-of-ownership PIP, which provides the buyer with long-term brand continuity and operational upside.
Strategic Location & Demand Drivers
The hotel is strategically located at the Interstate 79 / Interstate 80 interchange, offering exceptional regional accessibility and visibility. The property benefits from proximity to a diverse mix of demand generators, including:
Grove City Premium Outlets, one of the largest outlet centers in the country
Corporate and industrial employers in the Grove City / Mercer region
Healthcare, education, and leisure demand drivers
About Paramount Lodging Advisors
Paramount Lodging Advisors is a national hotel brokerage and advisory firm specializing in hospitality asset sales, debt and equity placement, and value-enhancement strategies across the United States.
To learn more about Paramount Lodging Advisors, explore recent transactions, or work with our team, visit www.paramountlodging.com.
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