205 Wolf Rd
Albany, NY 12205

Holliday Fenoglio Fowler, L.P. (“HFF”) is pleased to present the opportunity for qualified investors to acquire the leasehold interest in the 312-room, full-service hotel located in Albany, NY (the “Property” or “Hotel”). The Property was constructed in 1975 and consists of a 2-story interior-corridor hotel building and an attached 6-story interior-corridor hotel building. Guests benefit from a host of amenities including a complimentary breakfast, a restaurant, bar & lounge, business center, outdoor & indoor pools with a hot tub, fitness center, game room, guest pantry, guest laundry, and wireless high-speed internet. The Hotel also features 11,805 SF of meeting space and 6,187 SF of pre-function and other event space. The Property was originally branded as a Holiday Inn, however in 2015 it underwent a franchise-mandated Property Improvement Plan (“PIP”) with the conversation to the Radisson brand. The renovation accumulated to approximately $688,000 in cost and in September 2015 the Property was reopened as the Radisson Hotel Albany. It is reported that an additional $900,000 in PIP renovation costs were completed in 2017. In February 2018 the current owner of the Property entered into a portfolio-wide commitment to convert their existing hotels to the Red Lion Hotel (“RLH”) brand, inclusive of the subject. A new owner would be required to finalize any work outstanding from the Red Lion PIP, dated December 15, 2017. The Hotel is situated in a prime location within in Albany, the capital of New York, with close proximity to numerous retail and business drivers in the city. Within a one mile radius, there is over 965K SF of retail space and 1.6 MSF of office space. The Property is located directly off of I-87, boasting 98,907 VPD, and has frontage on Wolf Road, which has a traffic count of 29,000 VPD. Additionally, the Red Lion Hotel Albany is less than two-miles from the Albany International Airport, which sees an average of 180 daily commercial arrivals and departures. This sale presents investors with a rare opportunity to acquire a franchised Hotel that has recently undergone substantial capital improvements in the State’s capital with strong market fundamentals.