PHC Hotel Advisors sells economy/extended stay hotel in top quarter of sales

PHC Hotel Advisors was proud to represent one of the top sales on a price-per-room basis within the economy/extended stay segment of the My Place Hotel Boise/Meridian in September 2021.

Being located in the dynamic Boise market, the MyPlace Boise/Meridian had seen relatively minor negative effects from the COVID-19 pandemic. As far as performance goes, the property grossed 1.825m during 2019 and around 1.45m during the pandemic, with recovering gross performance projected to eclipse $2 million in 2021. The 85-room, 2017-build asset sold for $9,000,000 ($105,000+/RM), placing it in the top quarter of sales on a price per room basis within the economy extended-stay segment for 2021.

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