HVS Capital Corp was appointed to sell the Radisson Hotel Corning, located in the Finger Lakes Region of New York.
The 177-room hotel has more than twice the meeting capacity of any other nearby hotel and two F&B outlets. Situated in downtown Corning's historic Gaffer District, the Radisson is proximate to both corporate and leisure demand generators. The Corning Museum of Glass is located less than a mile north of the hotel and Corning, the world leader in optical communications and display technologies, is within walking distance of the property.
"The Radisson Hotel Corning is a rare purchase opportunity in today's market. The asset is unencumbered by management and is in great condition, yet there remains strong value-add potential," explained Bill Sipple, Executive Managing Director at HVS Capital. "Various factors impacted the hotel's recent performance, including new supply and an extensive renovation. Now that the improvements are complete and the new supply has been absorbed, the Radisson is poised for significant growth in 2014 and beyond."