JLL’s Hotels & Hospitality group has arranged the sale of the 127-room Hyatt Place Pittsburgh Airport/Robinson Mall in Pittsburgh. JLL worked on behalf of the seller and procured the buyer.
The hotel is primarily supported by airport demand. It is also close to prime Pittsburgh destinations such as Acrisure Stadium, the Pittsburgh Zoo, Settlers Cabin Park, S&T Bank Music Park, PPG Arena and the Pittsburgh Botanic Garden. The property features an indoor pool, fitness center and on-site dining.
The JLL Capital Markets Investment Sales team was led by Director Philip White.
“The buyer saw an incredible opportunity to purchase an asset well below replacement cost in a market with a lack of new competitive supply,” said White. “The buyer intends to renovate the hotel to compete better within its competitive set as well as maximize profitability within a rebounding Pittsburgh market.”