The Dorm Hotel

JLL’s Hotels & Hospitality Group, as sole and exclusive agent for the owner, has been retained to offer for sale the fee simple interest in the 31-room The Dorm Hotel and an accompanying student housing unit (collectively, the “Property”). Positioned directly adjacent to Cornell University- the only Ivy League institution in upstate New York and the dominant demand engine of the Ithaca lodging market- the Property occupies a location that cannot be replicated. Local zoning prohibits new hotel construction at this proximity to campus, conferring a permanent supply barrier that insulates the Property from competition and supports sustained rate and occupancy performance.

Ithaca itself has emerged as one of the most compelling small-market lodging destinations in the Northeast. Cornell’s nearly 27,000-student enrollment and year-round academic and events calendar anchor a consistent transient demand base, supplemented by a growing healthcare sector anchored by Centralus Health (a 6,000-employee system formed in 2025) and a nationally recognized leisure profile anchored by CNN’s designation of Ithaca as the #1 Best Town to Visit in America. The broader market has recorded RevPAR growth of 23% above 2019 levels with no new supply in the pipeline.

Against this backdrop, the Property delivers strong in-place cash flow, GOP margins consistently near 65%, and recently renovated offerings between both the hotel and student housing components. The Dorm Hotel presents a compelling opportunity to acquire a truly irreplaceable asset at the doorstep of one of America’s great universities.