Hospitality Group

AUCTION: March 21 (Microtel Inn & Suites - Albany, NY)

Microtel-Inn-Suites-Albany-NYAuction.com and Hotel Assets Group, LLC are pleased to offer the Microtel Suites (hereinafter “Property,” or “Hotel”), a hotel located in Latham, NY.

Microtel Inn & Suites – Latham (“the Property”), located at 7 Rensselaer Avenue in Latham, NY, is a 96 room interior corridor hotel built in 1995 and renovated in 2014. The Property operates as an Economy Brand/Limited Service Hotel. The Property consists of two stories and contains amenities such as a business center, wireless internet, a meeting area and free breakfast. There are currently 7 down rooms.

The Microtel Inn & Suites is situated just off Interstate 87, less than five miles from Albany International Airport. The Hotel is located within ten miles of Albany Aqua Ducks, Albany Institute of History & Art, Albany Planetarium, downtown Albany, Empire State Plaza, New York State Museum, and USS Slater DE 766. Other attractions include Gore Mountain, Howe Caverns, Lake George, Lake Placid, and West Mountain. Local businesses near the Hotel include ABC 10, Albany International Airport, Albany Law School, Albany Medical Center, Empire State College, and Union College.

Highlights:
• Recently renovated; will require little to no PIP 
• Revenues are increasing as a result of the recent PIP 
• In place and inclining cash flows 
• Great owner operator opportunity in the Northeast 

For more information, contact Andrew Broad at acbroad@hotelassetsgroup.com or 917-553-4267.

published: 02-24-2016

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