Investment Overview

Marcus & Millichap is pleased to offer the Crowne Plaza JFK, a 335 key, 233,210 square foot full-service hotel near John F. Kennedy International Airport. The hotel is conveniently located at the Northwest corner of the Van Wyck Expressway and the Belt Parkway, just 0.25 miles from the airport terminals. The hotel is visible from both major roadways. The nine-story property overlooks the airport grounds providing scenic views of departures and arrivals. In 2014, the Property was gut-renovated. During the project, nearly every facet of the building was improved and modernized, including the guestrooms, bathroom fixtures, amenities, mechanicals and exterior. Business and leisure travel, particularly domestic travel, are quickly ramping up to 2019 levels. JFK Airport reported almost 900,000 domestic passengers in February 2022, just 10 percent off of February 2019 and 2020 levels and approximately triple the February 2021 figure. This has already had a substantial impact on the property - hotel occupancy exceeded 96 percent in April and is above 88 percent for 2022 (January - April). JFK Airport has historically been the busiest international terminal in North America. When international travel returns, RevPAR is poised for a robust increase.