WASHINGTON, D.C., Feb. 8, 2024 - JLL's Hotels & Hospitality Group announced today that it arranged a sale on behalf of the seller of the dual-branded hotel Aloft/Element Arundel Mills BWI Airport in Hanover, Maryland, to Spark GHC.
The Aloft consists of 142 guestrooms, and Element has 147 guestrooms. Key amenities include an indoor pool, fitness center, 24/7 market, guest laundry and meeting space.
This premium-branded hotel benefits from its strategic location off State Route 100 near the intersection of the Baltimore-Washington Parkway, just 10 miles south of Baltimore and 20 miles north of Washington, D.C. It is four miles from Fort Meade and five miles from the BWI airport.
As shared in JLL's U.S. Select-Service and Extended-Stay Hotel Outlook, investors continue to gravitate towards the select-service sector due to its broad demand base, lean operating model, and consistent performance.
The JLL Capital Markets Investment Sales team consisted of Managing Directors Ketan Patel and KC 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, totaling $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 08 February 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 February 2024 16:38:29 UTC.
