Investment Overview

Marcus & Millichap is pleased to present for sale the Marriott Hagerstown Portfolio - Courtyard Hagerstown and SpringHill Suites Hagerstown offering located in Hagerstown, Maryland, consisting of 200 keys total. Both hotels are ideally situated near major highways—Courtyard Hagerstown and SpringHill Suites are directly adjacent to each other, with both offering access to I-70 and I-81. In 2023, SpringHill Suites Hagerstown completed their PIP, providing a strategic framework for enhancements that ensure brand alignment, operational efficiency, and an elevated guest experience, ultimately supporting long-term profitability for a new owner. Between year-end 2023 and year-end 2024, the two Hotels experienced a significant 1.9% increase in net operating income margin and achieved a RevPAR penetration index of 109.7%. This growth not only boosts room revenues and generates surplus capital for renovations but also enhances operational efficiencies, providing potential buyers with stronger cash flow, economies of scale, and an overall more attractive investment opportunity. The Courtyard Hagerstown, located at 17270 Valley Mall Road in Hagerstown, Maryland, is a 96-room upscale Marriott International hotel. This Steel and Plank constructed property offers a range of amenities, including a pool, on-site restaurant Courtyard Bistro, business center, fitness center, guest laundry, and 1,150 square feet of meeting and event space. The SpringHill Suites Hagerstown, located at 17280 Valley Mall Road in Hagerstown, Maryland, is a 104 room upscale Marriott International hotel. This Block and Plank constructed hotel offers a range of amenities, including an indoor pool, fitness center, guest laundry, and 1,363 square feet of meeting space. Hagerstown, Maryland, serves as the county seat of Washington County and is strategically located approximately 70 miles northwest of both Baltimore and Washington, D.C. This advantageous positioning places it within the Hagerstown-Martinsburg, MD-WV Metropolitan Statistical Area (MSA), which encompasses Washington County in Maryland and Berkeley County in West Virginia. The MSA benefits from a mix of urban and rural economies, supporting a diverse workforce and attracting businesses looking to leverage the region’s accessibility and resources. Hagerstown’s strategic location at the crossroads of Interstates 70 and 81 makes it a vital hub for transportation and distribution. These highways provide direct access to major metropolitan areas, enhancing connectivity for logistics, manufacturing, and retail industries. Hagerstown boasts a diverse economic landscape with several significant employers contributing to its growth. Meritus Health operates Meritus Medical Center, standing as the primary healthcare provider in the region. Washington County Public Schools serves the educational needs of the community and is among the top employers in the area. Volvo Group (6.5 miles) has a manufacturing facility in Hagerstown, playing a pivotal role in the local industrial sector. Amazon Fulfillment Center (1.5 miles) and GXO Logistics (2.9 miles) are key players in the logistics and distribution network, driving economic activity in the region. Stanley Black and Decker (4.5 miles) contributes to the area’s manufacturing capacity with its distribution center. Home Depot Distribution Center (2.8 miles) and Ryder Systems (4.5 miles) support regional supply chains, while Walmart (4.1 miles) is a significant player in retail logistics. Hitcahi Rails (2.3 miles) facilitates efficient rail transport, contributing to the region’s logistics infrastructure. First Data Corporation is a key player in the financial services industry within the region. Various state departments and agencies of the State of Maryland provide substantial employment opportunities in the area. Sierra Nevada Corporation (8.3 miles) is another important employer, contributing to the aerospace and defense sector. In addition to Meritus Medical Center, Hagerstown is home to specialized healthcare facilities such as Brook Lane Health Services, a private, nonprofit mental health organization offering a range of services, including hospitalization, therapy, and education, and Western Maryland Hospital Center, a state-run chronic care facility providing specialized services to patients with long-term care needs. The Meritus School for Osteopathic Medicine in Hagerstown, with approximate open date of Fall 2025, will provide a significant boost to western Maryland, offering local medical education and economic benefits. U.S. Rep. April McClain Delaney highlighted its importance for rural Maryland, noting the strong public-private collaboration driving regional growth. These institutions enhance the region’s healthcare offerings, catering to specialized medical requirements. Hagerstown also places a strong emphasis on higher education, hosting several institutions that contribute to workforce development. Hagerstown Community College (HCC) is a public two-year college offering a variety of associate degree and certificate programs across multiple disciplines. The University System of Maryland at Hagerstown (USMH) is a regional higher education center providing upper- division undergraduate and graduate programs in partnership with various universities within the University System of Maryland. These institutions play a crucial role in equipping the local workforce with necessary skills and knowledge, supporting the region’s economic vitality. Hagerstown is also a growing tourism destination with several demand generators attracting visitors year-round. The Maryland Theatre, a historic performing arts venue, hosts concerts, plays, and community events, drawing audiences from surrounding areas. The Washington County Museum of Fine Arts features an impressive collection of American and European art, adding cultural appeal. The city features prominent shopping destinations, including the Hagerstown Premium Outlets and Valley Mall, which draw visitors from neighboring regions, bolstering the local economy. Outdoor enthusiasts visit the nearby Appalachian Trail, Antietam National Battlefield, C&O Canal National Historical Park, and Whitetail Resort, all of which provide opportunities for recreation, heritage tourism, and winter sports.