Through September of 2023, the owner has invested nearly $6.0 million (~$35,000/key) into the Hotel. The on-property amenities include an indoor pool, fitness center, on-site restaurants, and meeting space.
Escarzega, who has over 20 years of industry experience, will focus on hospitality investment sales and advisory in the western U.S.
JLL Capital Markets represented Northridge Capital in securing the refinancing
Located in Peabody, Massachusetts, the SpringHill Suites Boston Peabody offers investors the opportunity to acquire an institutional-quality, Marriott-branded, all-suite hotel with strong in-place cash flow at an attractive basis.
Hotel companies are seeking fresh revenue streams from bespoke experiences and strategic partnerships.
Global urban market performance is strengthening, propelled by a surge in international travel and the return of business and group demand. Markets like London, New York and Tokyo are expected to lead global RevPAR performance in 2024 as travelers continue to return to cities.
The Fairfield Inn & Suites Springfield Enfield offers investors the opportunity to acquire a recently renovated, Marriott-branded hotel in Northern Connecticut. The Property benefits from strong in-place cash flow.
Demand for all-inclusive resorts is surging, with AI resorts in Mexico and the Dominican Republic averaging an occupancy recovery of 77% on a March 2022 TTM basis relative to 2019.
JLL Capital Markets represented Transwestern Hospitality Group in the financing for the 122-key hotel
Previously an office building, 70 Pine Street currently features 612 rental apartments, 39,075 square feet of retail space and a 165-key hotel