Two select-service hotels in New England’s Berkshires region sell
JLL’s Hotels & Hospitality Group closed the sale of Courtyard Lenox Berkshires and Hampton Inn & Suites Berkshires-Lenox in Lenox, MA
BOSTON, August 15, 2022 – JLL’s Hotels & Hospitality Group announced today that it has closed the sale of two select-service hotels totaling 171-keys in Lenox, Massachusetts.
JLL marketed the property on behalf of the seller, Toole Companies, in the sale to Mission Hill Hospitality, a KSL Capital Company.
The portfolio consists of the 92-key Courtyard Lenox Berkshires and the 79-key Hampton Inn and Suites Berkshires-Lenox. Built in 2017, Courtyard Lenox Berkshires sits on 6.7 acres featuring scenic views of the Berkshire hills. The Hampton Inn & Suites Berkshires-Lenox was built in 2008 on 6.6 acres of land and features 21 studio suites, a small meeting room and an indoor pool.
The hotels are located in the popular Berkshires region, known for a variety of year-round outdoor activities as well as museums and venues, including Tanglewood Music Center, Shakespeare and Co., Norman Rockwell Museum and Berkshire Botanical Gardens among others. The properties benefit from their proximity to major population hubs in the Northeast, including New York City (120 miles), Boston (110 miles), Providence (100 miles), New Haven (77 miles) and Albany (30 miles).
The JLL Hotels & Hospitality team working on behalf of the seller was led by Managing Director Alan Suzuki, Director Matthew Enright and Analyst Emily Zhang.
“Recent vintage, select-service hotels in well-located lodging markets in New England continue to be in favor for institutional capital,” said Suzuki. “The highly competitive marketing process highlights the Berkshires as one of the most desirable leisure destinations in the country.”
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Toole Companies
The Toole family has been a part of the local Lenox-Lee community since the 1850’s engaging in the fields of farming, paper-making, insurance, real estate and, most recently, hospitality. Their hotel roots began in 1989 with the historic relocation and repurposing of an 1885 schoolhouse turned French country inn (slated for demolition). Over the past 27 years, their firm has acquired, redeveloped and built properties comprising their current portfolio. With six members of the immediate family engaged in various aspects of management, a true sense of family and deep respect for both their employees and guests permeates the organization. They believe this personal connection and commitment to guest satisfaction is Toole Companies’ greatest asset and assurance of our long-term success.
About Mission Hill Hospitality, a KSL Capital Company
Mission Hill Hospitality is a KSL Capital portfolio company launched to transform select service and extended stay hotel investing. KSL is a global leader in hospitality, travel, and leisure investing. The Mission Hill team has decades of lodging experience, with a wide range of expertise across functions including operations, asset management, acquisitions, development and capital markets.