Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Best Western Plus East Syracuse Inn, a four-story limited service hotel conveniently located off of Interstate 90 in Syracuse, New York. The hotel's 109 guest rooms include a flat-screen TV, work desk, refrigerator, microwave and coffee maker. Hotel amenities include electrical vehicle charge point stations, meeting space, business center, fitness center and complimentary breakfast. Syracuse is home to Syracuse University, which is a major educational and research institution. The university attracts, faculty, and researchers, leading to demand for housing, services and related businesses. The city has several hospitals including SUNY Upstate Medical University, the only academic medical center in Central New York and the region's largest employer. The Best Western Plus East Syracuse Inn represents the opportunity to acquire a Best Western branded hotel in a desirable market near several demand drivers. Our analysis assumes conservative operational efficiencies, then continued modest growth supported by the increasing population and demand growth in the Central New York region. The Property has excess land for and preliminary plans to build a second hotel site. Brand opportunities include Tru by Hilton, WoodSprings Suites by Choice, EverHome Suites by Choice and Holiday Inn Express (see Deal Room for more information). Spark by Hilton and Garner from IHG are likely available for the existing hotel. The Hotel was built as a Hampton in 1985 and underwent a mulit-million dollar renovation in 2018 when it entered the Best Western system.