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On the market: Clarion Hotel & Conference Center listed for nearly $7M
March 8, 2016//
On the market: Clarion Hotel & Conference Center listed for nearly $7M
March 8, 2016//
Listen to this articleThe 195-room hotel at 148 Sheraton Drive, located just off the Pennsylvania Turnpike and Interstate 83, was built in 1971 and last renovated in 2010, according to the listing agents.
“It’s a lot of rooms,” said Gordon Allred of Marcus & Millichap. He expects the more than 8-acre property to attract regional hospitality companies from within a 500-mile radius of Harrisburg.
The proposed asking price equates to less than $35,000 per room.
“It’s well below replacement cost,” Allred said. “You can run a full-service property at a very low cost.”
No changes are on the horizon as it relates to the restaurants in the hotel, Allred said. The listing is just for the sale of the hotel side of the property.
The northern York County property was previously known as the Holiday Inn Hotel & Conference Center. It is owned by 1244 Associates, according to county deed records. The general partner in that limited partnership is New Cumberland Hospitality Inc.
Retirement was cited as the reason for the sale.
“So far there have been several inquiries,” Allred said. “We’re very optimistic.”
This story was modified to include the details about the restaurants not being part of this sale.
