NEW YORK, Jul. 21, 2023 - JLL's Hotels & Hospitality group announced today that it arranged the sale of the 125-room Holiday Inn Express & Suites Pittsburgh-South Side in Pittsburgh, Pennsylvania.
JLL represented the seller and procured the buyer.
The Holiday Inn Express & Suites is situated on 1.73-acres at 20 South 10th St. The six-story hotel offers 600 square feet of meeting space, a fitness center, indoor pool and business center.
The property benefits from its exceptional location in Pittsburgh's historic South Side, the city's premier entertainment district situated across from downtown Pittsburgh. The hotel is in the heart of the city's core social scene and is surrounded by a wide array of retailers, restaurants, upscale residential units and lifestyle shops. It is within three miles of the University of Pittsburgh, Duquesne University and Carnegie Mellon which, combined, boast a student population of over 52,000.
Pittsburgh is an acclaimed tourist destination as well as a top destination for large and small businesses from across the world. As evidenced by the Pittsburgh region's outstanding track record of business and tourism-related accolades, the region is largely focused on expanding its economic development and tourism initiatives, which provide tremendous benefit to local hoteliers.
The JLL Investment Sales and Advisory team was led by Managing Director Ketan Patel and Vice President Phil White.
JLL's Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling $83 billion worldwide. The group's 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
For more news, videos and research resources, please visit JLL's newsroom.
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Jones Lang LaSalle Inc. published this content on 21 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 July 2023 15:21:38 UTC.
