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.”

Virtual Event

HOTEL OPTIMIZATION PART 2 | Now Available On-Demand

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.

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

SVC plans to transfer the branding and management of 98 Marriott hotels to Sonesta.

Shortly after acquiring six hotel portfolios from Colony Capital, Highgate has assumed management of Trust Hospitality’s portfolio of 22 properties.

The Kelley House is one of the five oldest hotels in the U.S., taking up six buildings in Edgartown, Mass.