The 88-room Hampton Inn & Suites Albuquerque-Coors Road has been sold in a deal facilitated by Paramount Lodging Advisors. Other terms and conditions were not disclosed.
PLA was exclusively engaged to represent the seller in the sale of the hotel, which is located in New Mexico’s largest metropolitan statistical area between I-40 and Coors Blvd, four miles from Old Town and downtown Albuquerque. The institutionally owned hotel—which includes four floors with 60 guestrooms and 28 suites—was built in 2006 and was performing well with a RevPAR of approximately $120.
The marketing and transaction efforts were spearheaded by PLA’s senior associate Michael Sheppard and managing director Subu Thiagarajan.
“This transaction reflects the continued demand for quality select-service assets in under-appreciated markets like Albuquerque,” Sheppard said in a statement. “We’re proud to have delivered a successful outcome for our client.”