Baywood Hotels Expands in Ithaca, NY
The company has acquired a 106-key Fairfield Inn & Suites near Cornell University and Ithaca College, which are home to approximately 28,000 students.
By Holly Dutton
Fairfield Inn & Suites Ithaca
Baywood Hotels has acquired a 106-key Fairfield Inn & Suites in Ithaca, N.Y. HREC Investment Advisors arranged the deal on behalf of the seller, Titan Hotel Group. The property is located 2.5 miles from Cornell University and Ithaca College, which are home to approximately 28,000 students. Financial terms of the deal were not disclosed.
The hotel is located at 359 Elimira Road in the Finger Lakes region, 2 miles from downtown Ithaca and close to several dining and shopping options. Additionally, the property is situated 1.5 miles from Buttermilk Falls State Park and a 35-minute drive from Cayuga Lake.
Hotel amenities include free Wi-Fi, a fitness center, free breakfast and an indoor swimming pool. Guestrooms feature flat-panel TVs, microwaves and refrigerators.
Ketan Patel, managing director in HREC’s Washington, D.C., office, negotiated the transaction. Earlier this year, HREC Investment Advisors represented Titan Hotel Group in the sale of the 117-key Fairfield Inn & Suites Downtown Charlottesville in Virginia.
Image via Google Street View
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