CS Hospitality has sold the Fairfield Inn & Suites Williamsport, a 83-room hotel in Williamsport, Pa., to Maheever. The purchase price was $4.6 million. Marcus & Millichap arranged the sale for CS Hospitality. The property is adjacent to Pennsylvania College of Technology and the Little League World Series.
“The transaction was very smooth," Ahmed Kabani, senior managing director investments, Marcus & Millichap, said in a statement. "We were able to procure a first-time buyer to purchase the property in a market rebounding from COVID. The buyer saw the opportunity in an underperforming asset and over $2.5mm in deferred maintenance.”
Kabani and Lucas Mondino, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller. The out-of-state buyer was secured and represented by Ahmed Kabani and Lucas Mondino. Sean Beuche, regional manager, broker, assisted in closing this transaction.
The hotel has an indoor pool, a fitness center, a dry cleaning service and laundry facilities.