Poughkeepsie Hotel Set To Be Auctioned Off In November
A prime Poughkeepsie hotel located along Route 9 is set to be auctioned off this November. The 121 room Holiday Inn Express was built in 1967 and just received a massive renovation four years ago. The starting bid is $2.5 million.
This Holiday Inn Express was successful before the pandemic set in. According to the listing, it averaged a 66% occupancy rate with a regular daily rate of $129. The online auction runs from November 16-18 but you've got some paperwork to take care of first. This ensures anyone bidding on the property is serious about the investment.
Whether in the area for work or play there are a number of demand generators within 10 miles of the facility including Marist College, The CIA, Vassar College, Vassar Brothers Medical Center, and MidHudson Regional Hospital. Plus, anyone coming to the area to see the sights will need a place to crash after a long day of leaf-peeping.
So, if you've got the funds maybe you could share a few bucks with us. Or go buy yourself a hotel. You've got options with that kind of cash lying around.
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The listing is posted through Jones Lang LaSalle Americas, Inc out of Boston and more information can be found HERE.