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HREC IA and RealINSIGHT Marketplace are pleased to offer for sale the Quality Inn Syracuse Carrier Circle (herein referred to as the “Hotel” or “Property”) located in East Syracuse, New York. The 125-guestroom Hotel is conveniently located directly off of Interstate 90 and in close proximity to many major demand generators in the greater Syracuse area. The Property is located adjacent to Syracuse Hancock International Airport and 6 miles from Downtown Syracuse and Syracuse University.
Excellent Location & Visibility – The Quality Inn is located directly off Interstate 90, a major highway that runs east to west from Seattle, Washington to Boston, Massachusetts. It is the second-longest highway in New York as it extends from the Pennsylvania state line to the Massachusetts state line. In addition, Interstate 81 is located approximately 5 miles from the Hotel. I-81 runs north to south through Central New York as it extends from the Pennsylvania state line to the Canadian border. The Syracuse Hancock International Airport and Syracuse University are both situated 6 miles from the Hotel. Other immediate area demand generators include offices in Carrier Circle Parkway (less than 1 mile), Destiny USA (8 miles) and SRC Arena and Event Center (10 miles).
Operational Upside – Historically, the Hotel has under-penetrated its competitive set’s RevPAR Index. This puts a new investor in an extremely advantageous position to tailor operational and revenue management strategies to increase performance and improve cash flow.
Diverse Demand Generators – The Carrier Circle Parkway, named after the prominent Carrier Corporation, provides a diversified lodging customer base through a balanced mix of office, industrial, residential and retail space.
Recently Renovated Product – The Hotel recently underwent a renovation; therefore, a minimal Change of Ownership PIP is expected for the buyer of the Property. This allows new ownership to begin operations in an up-to-date building while tailoring operational and revenue management strategies to meet the needs of the market as well as the Hotel.
Strong Brand Affiliation – The Quality Inn is one of most sought-after brands of Choice Hotels. The Property benefits from the brand’s strong international reservation system, prominent rewards program through Choice Privileges, and consumer brand recognition. We would not recommend any brand repositioning of this asset due to existing product and current business mix.
Offered Well Below Replacement Cost – The Hotel’s combination of location in a growing market and upside opportunity provide an investor with the opportunity to acquire well below replacement cost.
Offered Unencumbered by Management – The Property will be offered unencumbered by management agreements. A new owner/operator has the opportunity to revamp the operational strategies of the Hotel, implement new marketing and strategic cost control initiatives, and employ more aggressive revenue management strategies.
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.
You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
Platform fee for this transaction is 5.00% or a minimum of $25,000.
Ralph Passono, Jr.
c/o Fisher Auction Company Inc.
License: 1 Co.:10311203946