Marriott / IHG Select-Service/Extended Stay Portfolio
VA Beach, Hampton, Yorktown, Harrisonburg, Virginia
Building
Stats
- Property Type Hospitality - Select Service, Hospitality - Extended Stay
- Price $48,030,000
Overview
Avison Young, is pleased to offer the fee simple interest in the a portfolio of three Marriott / IHG Select Service/ Extended Stay hotels in: Virginia Beach, Hampton, and Yorktown and Harrisonburg Virginia (hereinafter “Property” or “Hotel’), select-service/extended stay hotels located in proximity to one-another in the State of Virginia.
The Properties range from former late 1980's era Generation-1 Residence Inn's to brick four story modern 2006 style construction
Highlights
465 keys
Located close to one another for management synergy
Select - Service / Extended stay Brands
Two of four properties fully renovated
Would note that CY Hampton has been under renovation all of 2020 and half of 2021 due to a string of bad luck with contractors causing a very low STR index. However, the market and location is amazing with a band new aquatics center under construction across the street. 2017 STR report included to see historical performance.
Hampton and Yorktown will be 100% renovated. Virginia Beach has not been renovated yet. Also, Hampton and Virginia Beach were Marriott managed under prior ownership.
