Colliers International announced the sale of a Hampton Inn & Suites in Yardley, Pa.
The 137-room Hampton Inn & Suites was purchased by Yardley Hospitality Holdings for $10.76 million. Rich Lillis, EVP, and Carl Neilson, SVP at Colliers International, represented the seller, Stony Hill Lodging Limited Partnership, asset managed by LNR Partners, in the sale. The sale drew interest resulting in 13 qualified offers among hundreds of interested investors.
Located at 1000 Stone Hill Road in Newton-Yardley of lower Bucks County, the hotel is situated outside of Philadelphia and with immediate access to area demand generators and corporate lodging demand. The new owner plans to roll out a comprehensive property improvement plan, which extends the Hilton-brand license for years to come.
The Hampton Inn & Suites in Yardley, Pa., provides a business center, complimentary printing service, a fitness room, pool and a meeting room. The property is located near a number of local area restaurants. Local attractions include Carousel Village at Indian Walk, Sesame Place, Adventure Aquarium and more.