fbpx

Springwood planning new hotel in Hershey market

York Township-based Springwood Hospitality, a hotel development and management company, is expected to break ground this spring in Derry Township on a 108-room Fairfield Inn & Suites by Marriott hotel.

Springwood Hospitality is the sister company of Springwood Commercial Realty and Springwood Real Estate Services.

The company in November purchased six non-contiguous parcels, totaling nearly 3 acres, from the Derry Township Industrial and Commercial Development Authority, said Bill Gladstone, head of the Bill Gladstone Group for Wormleysburg-based commercial real estate firm NAI CIR.

The site at Hockersville and Mill roads was formerly Derry Township municipal and police offices. The purchase price was $1.2 million, Gladstone said.

Springwood President and CEO David Hogg would not disclose the exact development cost of the new hotel, but he did say it was in the many millions of dollars. The project is slated for a 12-month build and should be open before the season starts at Hersheypark, he said.

In 2009, Springwood opened the Country Inn & Suites by Carlson in South Hanover Township.

“We are not chasing anything else in Dauphin County. Hershey is a special market,” Hogg said. “During the season, there is still excess demand that overwhelms supply. People are willing to pay a premium to stay near the park or the hospital.”

Springwood has been studying the Hershey market for the past decade, he added. The company also has developed three York County hotel properties: the Comfort Inn & Suites, Hotel Inn Express & Suites and the Homewood Suites.

Business Events

The Future of Higher Ed Summit

Tuesday, September 29, 2020
The Future of Higher Ed Summit

Forty Under 40

Wednesday, September 30, 2020
Forty Under 40

Game Changers

Monday, November 02, 2020
Game Changers

Real Estate & Development Summit

Tuesday, November 10, 2020
Real Estate & Development Summit