Descripción

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 127-room Element by Westin Ewing/Princeton (the "Hotel" or "Property"). This asset represents a compelling conversion opportunity to transition a well-located extended stay property into Marriott's TownePlace Suites (TPS), IHG's Staybridge Suites (SS), Hyatt's Hyatt House (HH), or Hilton's Homewood Suites (HWS), capturing significant repositioning upside in a supply-constrained Princeton/Central hospitality submarket.

Strategically positioned at 100 Sam Weinroth Road in Ewing Township, New Jersey, the Property benefits from exceptional highway access via Interstate 95 (New Jersey Turnpike), U.S. Route 1, and Interstate 295, connecting the asset to major employment centers, Princeton University, state government operations in Trenton, and a robust concentration of Fortune 500 corporate headquarters including Bristol Myers Squibb, Church & Dwight, and NRG Energy.

The property's 2025 performance of 62.5% occupancy and $106.97 ADR reflects its transitional state in the current Element configuration, achieving a 71% RevPAR index against the STR competitive set. When benchmarked against a more appropriate JLL competitive set with a $102+ RevPAR profile, the asset demonstrates stronger fundamentals with an 86% occupancy index, underscoring the value creation opportunity through strategic repositioning. The Princeton/Central submarket comprises 65 properties totaling approximately 7,000 rooms, with the Upscale & Upper Midscale segment achieving 61.3% occupancy and $136 ADR. Critically, zero new supply is under construction with no deliveries in the past 12 months, creating an exceptional environment for a newly renovated extended stay product under a leading flag to rapidly recapture market share from aging competitors and achieve RevPAR index levels of 100% or greater, driving substantial NOI growth.

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