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DelMonte Hotel Group sells upstate New York hotel

DelMonte Hotel Group has sold the 107-room Courtyard Ithaca Airport in Ithaca, N.Y. to Skyline Investments for $11.25 million.

Located next to Ithaca Tompkins International Airport and Cornell University, the Courtyard Ithaca Airport is positioned to capitalize on consistent demand. The four-story hotel is directly across from the airport, which, having just completed a $34.8 million renovation, is experiencing rapid growth with new flight routes. The Courtyard also serves more than 24,000 students at Cornell University, less than two miles from the property. 

Hunter Hotel Advisors arranged the sale, with Hunter SVP Mayank Patel taking the lead. The sale is the 15th transaction the Hunter team has closed in July.

“We are pleased to have completed another successful transaction with Mayank and the Hunter team," DelMonte Hotel Group CEO and President Alex Delmonte said in a statement. "The Hunter team ran a competitive process that ultimately allowed us to maximize the value in the property.”