AAA Location Neighboring LaGuardiaAirport

The aloft is located adjacent to LaGuardia Airport's B, C, and D Terminals and is the closest hotel to the airport. In 2024, LaGuardia served over 33 million passengers, reaching an all-time record passenger volume. Additionally, the hotel pulls demand from the surrounding Queens neighborhoods of East Elmhurst, Jackson Heights, Astoria as well asWillets Point.

Non-Union Hotel

The number of non-union hotels in New York continues to decline. According to the Wall Street Journal, only 30% of Hotels in NYC are non-unionized, making the aloft even more valuable as this number continues to decrease. Non-unionized hotels are ideal from an ownership perspective as they offer lower labor costs, greater operational flexibility, and fewer regulatory or contractual constraints.

High Barrier to Entry Market

The LaGuardia Airport area is considered a high barrier to entry market for hotel owners due to a combination of limited available land, strict zoning regulations, high construction costs, and strong competition for development sites. Additionally, community opposition, long permitting timelines, and limited room for new supply further restrict new entrants, creating a supply-constrained environment that benefits existing hotel owners through stronger pricing power and occupancy stability.

Newly Renovated Asset with No Change-of-Ownership PIP

Current Ownership just completed a seven-year refresh PIP. Approximately $1.2 million has been spent on renovating the Property. As such, new Ownership will get to reap the performance-related advantages of a newly renovated Property without having to pay for a Change-of-Ownership PIP.

Significant Operational Upside Potential

The aloft is grossly mis-managed and is materially underperforming relative to its potential. The Hotel lacks a dedicated sales team, has no corporate account base, and is not being actively overseen by ownership. As a result, the Property is operating at an inefficient 30% rooms expense ratio—well above industry norms for this asset type. With proper management in place, there is significant upside through improved cost controls and basic revenue-driving initiatives.

Marriott Family Brand Affiliation

aloft is considered to be one of Marriott’s premier lifestyle brands. The aloft benefits from Marriott’s industry-leading loyalty program of over 237 million members.

Overbuilt to Brand Standards with High-Quality Construction and Functional Upside

The Hotel exceeds typical brand standards through its reinforced concrete construction and premium building features, including central VRF HVAC systems (not PTACs), triple-pane windows for enhanced sound insulation, oversized guestrooms (approximately 364 SF each), a striking double-height lobby atrium, and a brand-new roof. While the Hotel currently offers 28 striped spaces, the fee-simple interest includes control of the entire front parcel, providing ownership with approximately 40+ total parking spaces—an operational advantage in a dense urban airport submarket.

Fee Simple Interest & Unencumbered by Management

The Property will be offered fee simple and unencumbered by management.