Holiday Inn Express Corning - Painted Post | 9775 Victory Hwy
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Holiday Inn Express Corning - Painted Post 9775 Victory Hwy
67 Room Hotel Painted Post, NY 14870 £6,266,400 (£93,528/Room)
Investment Highlights
- Opportunity to acquire a fully operational, fee-simple 67-key Holiday Inn Express offering limited service, significantly below the replacement cost.
- Siemens Energy, Corning Incorporated, and Guthrie Corning Hospital (all in a 3-mile radius) are leading employers in the area, attracting visitors.
- The Ithaca/Elmira market is projected to experience no significant supply side pressures on occupancies or room rates in the foreseeable future.
- Formula Blue 2.0 Interior Renovation completed with a $2M capital expenditure, alleviating the majority of renovation requirements.
- Close proximity to renowned attractions including Finger Lakes Region's wine trails, Watkins Glen International Racetrack, and downtown Corning.
- IHG Hotels & Resorts ranks among the world’s leading hotel companies, with nearly one million rooms globally and over 110M loyalty members.
Executive Summary
Connolly Investments, as the exclusive representative of the seller, is delighted to present to qualified purchasers the Holiday Inn Express Corning – Painted Post, located at 9775 Victory Hwy, Painted Post, NY 14870. This three-story, interior corridor, limited-service hotel recently underwent a complete interior renovation meeting Formula Blue 2.0 requirements, totaling $2 million in capital expenditures. The current franchise agreement has been reinstated for an additional 15 years and is available for change of ownership. The property is offered with fee-simple interest, unencumbered by management contracts and debt.
The Holiday Inn Express Painted Post boasts a prime location in a high-traffic area within Steuben County. Situated on a 2.47-acre site, the hotel benefits from convenient and direct access to key highways, including I-86 and Victory Hwy, ensuring a steady stream of business, transient, and leisure travelers.
Within a four-mile radius, guests can visit prominent local attractions such as the headquarters of Corning Incorporated, Downtown Corning, the Gaffer District, Rockwell Museum, and the Corning Museum of Glass. The hotel is also just 24 miles from the beautiful Finger Lakes Region, one of New York State's largest wine-producing areas. Additionally, the property provides easy access to Watkins Glen International, a NASCAR Racetrack that hosts races year-round and is a short 28-minute drive from the hotel.
The hotel offers an array of amenities, including a Business Center, Fitness Center, Indoor Pool, and Daily Breakfast. Each guest room is equipped with high-speed internet access, a 37-inch flat-screen television, a microwave, and a mini-refrigerator. The recent renovations, completed between December 2023 and May 2024, ensure that the property meets the highest standards of comfort and modernity.
This is an excellent opportunity for a new owner to acquire a property with minimal capital expenditure required at the change of ownership. The hotel has a consistent performance record with steady revenue and minimal supply-side pressures, making it a desirable investment. As an upper midscale property, the Holiday Inn Express Painted Post offers a lucrative investment opportunity in a prime location.
The Holiday Inn Express Painted Post boasts a prime location in a high-traffic area within Steuben County. Situated on a 2.47-acre site, the hotel benefits from convenient and direct access to key highways, including I-86 and Victory Hwy, ensuring a steady stream of business, transient, and leisure travelers.
Within a four-mile radius, guests can visit prominent local attractions such as the headquarters of Corning Incorporated, Downtown Corning, the Gaffer District, Rockwell Museum, and the Corning Museum of Glass. The hotel is also just 24 miles from the beautiful Finger Lakes Region, one of New York State's largest wine-producing areas. Additionally, the property provides easy access to Watkins Glen International, a NASCAR Racetrack that hosts races year-round and is a short 28-minute drive from the hotel.
The hotel offers an array of amenities, including a Business Center, Fitness Center, Indoor Pool, and Daily Breakfast. Each guest room is equipped with high-speed internet access, a 37-inch flat-screen television, a microwave, and a mini-refrigerator. The recent renovations, completed between December 2023 and May 2024, ensure that the property meets the highest standards of comfort and modernity.
This is an excellent opportunity for a new owner to acquire a property with minimal capital expenditure required at the change of ownership. The hotel has a consistent performance record with steady revenue and minimal supply-side pressures, making it a desirable investment. As an upper midscale property, the Holiday Inn Express Painted Post offers a lucrative investment opportunity in a prime location.
Data Room Click Here to Access
- Operating and Financials
Property Facts
| Price | £6,266,400 | Building Size | 41,724 SF |
| Price Per Room | £93,528 | No. Rooms | 67 |
| Sale Type | Investment | Number of Floors | 3 |
| Property Type | Hospitality | Year Built/Renovated | 1994/2024 |
| Property Subtype | Hotel | Parking Ratio | 1.77/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 2.47 AC |
| Price | £6,266,400 |
| Price Per Room | £93,528 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 2.47 AC |
| Building Size | 41,724 SF |
| No. Rooms | 67 |
| Number of Floors | 3 |
| Year Built/Renovated | 1994/2024 |
| Parking Ratio | 1.77/1,000 SF |
| Corridor | Interior |
Amenities
- Business Centre
- Fitness Centre
- Pool
- High Speed Internet Access
- Public Access Wi-Fi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 67 | £122.98 | - |
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PROPERTY TAXES
| Parcel Number | 464289-280-000-0001-014-100 | Improvements Assessment | £1,917,518 |
| Land Assessment | £287,471 | Total Assessment | £2,204,989 |
PROPERTY TAXES
Parcel Number
464289-280-000-0001-014-100
Land Assessment
£287,471
Improvements Assessment
£1,917,518
Total Assessment
£2,204,989
zoning
| Zoning Code | 05 (05 - Commercial County Use Code: 415 (MOTEL)) |
| 05 (05 - Commercial County Use Code: 415 (MOTEL)) |
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Holiday Inn Express Corning - Painted Post | 9775 Victory Hwy
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