JLL Arranges Sale of Hyatt Place Pittsburgh Airport — LODGING
JLL’s Hotels & Hospitality Group announced that it arranged the sale of the 127-room Hyatt Place Pittsburgh Airport / Robinson Mall. JLL’s Hotels & Hospitality Group has arranged the sale of the 127-room Hyatt Place Pittsburgh Airport / Robinson Mall in Pittsburgh, Pennsylvania. The hotel is primarily supported by airport demand and has proximity to Pittsburgh destinations such as Acrisure Stadium, the Pittsburgh Zoo, Settlers Cabin Park, S&T Bank Music Park, PPG Arena, and the Pittsburgh Botanic Garden. The buyer intends to renovate the hotel to compete better within its competitive set and maximize profitability within a rebounding Pittsburgh market.
Published : a month ago by LODGING Staff in Travel
NEW YORK—JLL’s Hotels & Hospitality Group announced that it arranged the sale of the 127-room Hyatt Place Pittsburgh Airport / Robinson Mall in Pittsburgh, Pennsylvania. JLL worked on behalf of the seller and procured the buyer.
The hotel is primarily supported by airport demand. It also has proximity to Pittsburgh destinations such as Acrisure Stadium, the Pittsburgh Zoo, Settlers Cabin Park, S&T Bank Music Park, PPG Arena, and the Pittsburgh Botanic Garden. The 127-room property features an indoor pool, fitness center, and on-site dining.
The JLL Capital Markets Investment Sales team was led by Director Philip White.
“The buyer saw an incredible opportunity to purchase an asset well below replacement cost in a market with a lack of new competitive supply. The buyer intends to renovate the hotel to compete better within its competitive set as well as maximize profitability within a rebounding Pittsburgh market,” said White.