Yardley Hospitality Holdings has acquired the Hampton Inn & Suites Newtown in Yardley PA. in a $10.72 million transaction. Located at 1000 Stone Hill Road the three story 137 room property was built in 1999 on a 1.33 acre site. Trading for $78,555 per room key the asset rest in the Lower Makefield Corporate Center, making it the only hotel in the immediate vicinity. The new owner plans to roll out a comprehensive property improvement plan, which would extend the Hilton-brand license for 15 years. Colliers International brokers Rich Lillis and Carl Neilson represented the seller an entity managed by LNR Partners.
“Hampton Inn is the leading limited service brand, and is highly sought after by hotel investors,” said Rich Lillis, Executive Vice President, Colliers International South Florida and member of the firm’s Hotel Services Practice Group. Lillis stated interest in the Hotel was strong throughout the marketing process. “The extensive brand-required property improvement plan posed a challenge. Among hundreds of interested investors, 13 qualified offers were received by Colliers, and ultimately Yardley Hospitality Holdings, LLC emerged and was selected as the successful purchaser.”
