2622 Wexford Bayne Road, Franklin Park, PA 15143
New Construction Hampton Inn
Berkadia Hotels & Hospitality is exclusively retained to offer the fee-simple interest in the 88-room Hampton Inn Wexford Sewickley (‘Hotel’ or ‘Asset’). The most recent proto-type Hampton Inn is ideally located just off Interstate 79, one of the Ohio Valley’s primary north-south corridors running from Lake Erie to the north to Charleston, West Virginia to the south. The Hotel is across the street from Children’s North, a facility associated with the Children’s Hospital of Pittsburgh, and less than one-tenth of a mile from Lowe’s regional corporate offices. Moreover, the Hampton Inn is within eight miles of the 554,500 s.f. Keystone Corporate Office Park, home of Westinghouse Electric Company, Heinz, Federated Investors, and EXCO Resources. Finally, the Hotel is approximately 15 miles north of downtown Pittsburgh’s many businesses and regionally popular leisure attractions.
Since the Hotel’s inception, it has consistently finished four or five of five competitors in occupancy, most recently finishing with an index of only 91.1% for the TTM period ending May 2019. A new-build Hampton, which is also the newest Hotel among its competitive set, should be finishing among the top hotels in its market for occupancy. The likely reason for the suppressed occupancy ramp was management’s decision to enter the market with an ADR premium.
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