A price per key becomes a comp only when you know what the next owner must spend.
A Palette Hotels affiliate bought the 353-room DoubleTree by Hilton New York LaGuardia Airport in East Elmhurst, Queens, for $72M, or $203,966 per room. Synergy Hospitality Management had owned it since 2007, about 19 years (derived).
Without NOI a cap rate cannot be calculated, and without the prior price the gain or loss is unknown.
Implications
Treat the print as a boundary for franchised airport hotels in New York, not a yield. The next owner's returns depend on the franchise property-improvement plan and airport traffic, neither of which is disclosed.
Flags: Paywalled excerpt; single source. Financing, NOI, PIP and prior price not disclosed. Hold period is a CRE360 derivation.
Related coverage
Key Takeaways
- The print is a price comp, not a yield comp
- The seller's hold lasted about 19 years
- The next owner's capital plan is the missing number
CRE News, 353-Room Hotel Near LaGuardia Airport Trades for $72Mln, Oct. 6, 2026
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