Hall of Fame: Cooperstown Country Inn sells for $4M

MBA Hotel Brokers closed on the sale of the Country Inn & Suites in Cooperstown, N.Y., home of baseball's Hall of Fame. MBA represented the seller, Northern Lights Land Company. The hotel was purchased by HUM Hospitality who plans to continue to operate as a Country Inn & Suites. The final sale price was $4.17 million.

The Country Inn & Suites, built in 2006, is 3 stories, interior corridor and has 60 rooms. The property was partially renovated in 2011 and includes a heated indoor pool, fitness room, business center, and 3,000 square feet of meeting rooms.

Charlie Fritsch, president of MBA Hotel Brokers and broker for the deal, said, “This transaction had some challenges but I am happy to have been able to help the seller and buyer complete the sale.”


Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

This final sale price was reportedly influenced by the sale date due to the high seasonality of the hotel revenue. In addition, a large anticipated PIP was a factor in arriving at the final sale price.

Suggested Articles

Reuben Brothers have completed the acquisition of the La Palma Hotel in Capri, the first and oldest hotel on the island, opened in 1822.

Polish Aviation Group, the parent company of LOT Polish Airlines, has acquired Condor, Thomas Cook’s German airline, for an undisclosed fee.

Radisson Hotel Group is planning to open three more hotels in Turkey this year, with two in Istanbul and one in İzmir.