RESIDENCE INN
PHILADELPHIA LANGHORNE

Langhorne, Pennsylvania

Deal Type: Acquisition 

Risk Profiles: Core

Property Type: Hotel & Hospitality 

PROPERTY OVERVIEW

EXCELLENT LOCATION 

The Residence Inn Philadelphia Langhorne is located in a major commercial and retail corridor just off US1. It is situated in the prominent Bucks County Business Park, offering convenient access to major demand generators and nearby cities like Philadelphia and Trenton. The hotel is less than one mile from various businesses, including Almo Distributing, Nordon Food Service Equipment, Metals USA Plates and Shapes, McCaffrey’s Food Markets Corporate Office, and Blue by ADT. Additionally, medical demand is generated from St. Mary’s Medical Center, a leading healthcare institution in the Bucks County region with 348 beds, contributing an impressive $1.6 billion in revenue, only six miles from the hotel. Furthermore, the hotel is within close proximity from leisure and entertainment amenities and centers including the Oxford Valley Mall and Plaza, Washington Crossing Historic Park, and Sesame Place.

RECENTLY RENOVATED HOTEL 

The Residence Inn Philadelphia Langhorne has undergone more than $3.7 million ($37,000 per key) in CapEx since 2019 and the hotel is in excellent condition overall. Minimal CapEx is expected to be due upon sale thus allowing new ownership to focus on operations and benefit from a strong in-place and future cash flow.

TOP PERFORMING ASSET

The Residence Inn Philadelphia Langhorne is the top performing hotel in the Langhorne market and has consistently ranked 1 of 7 amongst its competitive set in regard to RevPAR. Through the trailing twelve month (“TTM”) period as of May 2023, the hotel achieved a RevPAR of $132.51, up 12.7% year over year with an index of 142.5% for the period. As a result, the hotel achieved total revenues of $ $4,990,441 and generated strong in-place cash flows of $1,973,100. Going forward, the hotel is forecast to produce $5,287,391 in revenue and $2,115,541 in net operating income (“NOI”) for year-end 2023.