Residence Inn & Springhill Suites Milford CT

RobertDouglas and Jones Lang LaSalle are pleased to present the opportunity to acquire the 198-key Residence Inn and SpringHill Suites Milford 2-Pack located in Milford, Connecticut. The Properties consists of the 74-key Residence Inn Milford and the 124-key SpringHill Suites Milford, situated on adjacent parcels.

The Hotels are strategically positioned along Connecticut’s primary coastal corridor with direct access to I-95 and close proximity to academic, corporate, healthcare, and leisure demand generators, including prestigious academic institutions such as Fairfield University and Yale University, and the corporate headquarters of Sikorsky, BIC, Subway, and Schick. Visitors enjoy access to the Connecticut Post Mall, the largest mall in the state, and 17 miles of scenic Long Island Sound shoreline. The nearby Milford Metro-North station provides direct rail service to New York City in under 90 minutes.

A buyer has the opportunity to unlock upside by executing the comprehensive renovation and building off the Properties' $7.6 million of in-place rooms revenue, $1.5 million in-place cash flow, and a combined RevPAR in excess of $100. Offered unencumbered of management, the Properties feature two of Marriott International’s strongest select-service brands, and are located in a supply-constrained market that has experienced a substantial loss in hotel supply over the past six years.