HREC Investment Advisors arranged the sale of the 106-room Fairfield Inn & Suites located in Ithaca, N.Y. Baywood Hotels was the buyer of the property.
HREC Investment Advisors represented the seller Titan Hotel Group during the transaction. The sale was negotiated by Ketan Patel, managing director in HREC's Washington D.C. office.
The Fairfield Inn & Suites is located near both Cornell University and Ithaca College, which are home to approximately 28,000 students. The property's location in the Finger Lakes region also benefits from nearby tourist destinations that include the Seneca Lake Wine Trails and state parks.
The hotel offers amenities such as free Wi-Fi, a fitness room, a free breakfast and an indoor pool. The hotel's guestrooms include flat-panel TVs, microwaves and refrigerators.