DEAL OVERVIEW
Excellent Location
The Hampton Inn Boston Peabody and the Homewood Suites Boston Peabody are located on US-1 proximate to the junction of US-1 and I-95. The hotels' location near excellent infrastructure allows for easy access to Boston, which is just 13 miles south. Driving local demand is nearby Salem, which draws more than 900,000 visitors in the month of October each year. Serving a dynamic market, additional demand generators include the global headquarters of Analogic Corporation, Cardinal Health, Neurological, Lahey Medical, Jeol, and Westrock.
Strong Metrics and Cash Flow with Additional Upside
The Hampton Inn Boston Peabody and the Homewood Suites Boston Peabody have demonstrated exceptional performance. The Hampton Inn is boasting an impressive $123 RevPAR for the Trailing Twelve Month period ending July 2023 and has averaged a $133+ ADR since 2019, while the Homewood Suites displays an impressive $150 RevPAR for the Trailing Twelve Month period ending July 2023 and has averaged a $139+ ADR since 2019. Despite being due for renovations, strong top line metrics have allowed the hotels to produce strong cash flows. Significant upside remains upon completion of a change-of-ownership PIP.
Offered Below Replacement Cost in High Growth Market
The Hampton Inn Boston Peabody and the Homewood Suites Boston Peabody are being offered at a discount to replacement cost with construction costs at an all-time high. The offerings present an opportunity to buy into an exponentially growing market at an attractive basis.
Unencumbered by Management and Debt
The Hampton Inn Boston Peabody and the Homewood Suites Boston Peabody are being offered unencumbered of current management and any debt.
