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Comfort Inn & Suites Watertown 1000 Islands – Image Credit CBRE
CBRE Hotels has announced an exclusive sales advisory role for the recently renovated Comfort Inn & Suites Watertown – 1000 Islands. The hotel, featuring 135 rooms, is located near major New York attractions and benefits from a stable demand base. The property is on offer unencumbered of brand and management, presenting an excellent investment opportunity.
Investment Details and Location
The Comfort Inn & Suites Watertown—1000 Islands is available for purchase completely unencumbered by brand and management, offering potential investors a unique opportunity for operational flexibility in the future. The property is strategically located in Watertown, NY, the largest city in New York State’s North Country Region. It serves as the gateway to the Thousand Islands, the Adirondack Mountains, and various international destinations in Canada.
Superior Guest Room Product and Accessibility
The hotel showcases superior guest room offerings, with the current ownership investing approximately $1.8 million between 2022 and 2023 for complete room updates. Out of the 135 rooms, 25 are suites. The property’s location off I-81 provides excellent access to major demand generators, including Salmon Run Mall, Watertown International Airport, Fort Drum, and other local employers like Samaritan Medical Center, New York State Offices, and Correctional Facilities.
Unique Investment Highlights
Investors can acquire the Comfort Inn & Suites at a significant discount to its replacement cost, despite the property being in excellent condition. The current ownership has conducted a comprehensive renovation, spending about $1.8 million between 2022 and 2023. This allows a new owner the option to maintain the Comfort Inn & Suites as-is or consider alternative brand options.
No new lodging supply is planned for the near future in Watertown and the surrounding areas, providing a competitive advantage to prospective buyers. Additionally, the ongoing expansion of Watertown International Airport, which includes the construction of a new terminal and extensive renovations to the old terminal, could further boost demand for the hotel. The new terminal, set to be completed by 2025, will house various amenities, including a new lobby, ticketing and baggage claim areas, a jet bridge, expanded passenger waiting areas, and dedicated car rental counters.
Inquire at CBRE.
