Hyatt Place Pittsburgh Airport began operations in 1998 with 127 rooms. It is located on the southern side of the Lincoln Highway off I-376. The hotel is eight miles from Pittsburgh International Airport and 12 miles from downtown Pittsburgh. Within the neighbourhood is a mix of retail, commercial, industrial and hospitality properties. The hotel was last renovated in 2016.
ARA US Hospitality Trust has agreed to sell Hyatt Place Pittsburgh Airport for a consideration of US$7.7 million ($10.3 million). The hotel, which is the smallest within the trust’s portfolio, was valued at the same price as at Aug 31, by an independent appraiser. The consideration will be satisfied in cash.
The managers of the trust, on Nov 27, entered into a conditional purchase and sale agreement with Bacall Companies to sell the property.
