Project Description

The Hampton Inn & Suites Albany, New York is a 165-Key hotel located in downtown Albany, New York. The hotel was constructed in 2005 and includes concrete block construction and a strong unit mix features an excellent mix of standard guest rooms and suites. The hotel includes two on-site restaurants, 2700 SF of meeting space, business center, fitness center, a suite shop, relaxation club, and more. The area features demand drivers that are robust and diversified that include technology, education, state government, and healthcare. There are four universities in close proximity to The Hampton Inn, all affiliated with the State University of New York System. The areas corporate demand is also very strong including giants like IBM, Xerox, and Time Warner.

LOCATION: Albany, New York

YEAR BUILT: 2005

NUMBER OF ROOMS: 165

AQUISTION DATE: April 2015

PROJECTED IRR: 19%

PROJECTED EQUITY MULTIPLE: 2.02

BUSINESS PLAN: Renovation/Management Realignment