The Vista Hospitality Group is pleased to announce the purchase of the SpringHill Suites by Marriott Pittsburgh Mills and the Residence Inn by Marriott Pittsburgh Monroeville/Wilkins Township. Vista has acquired select properties from the unnamed seller in the past, and their respective management teams seized upon a unique opportunity to work together again on the disposition and purchase of strong properties in a developing Pennsylvania market. The acquisition transaction closed on March 17, 2023.
According to VisitPA.com, “Pittsburgh and its countryside is a region full of history, great food, and cool activities. The “Steel City” is surrounded by the Three Rivers and has one of the world’s most recognizable cityscapes. With all the big city attractions and a small-town charm, Pittsburgh now leads the way in bioengineering, medicine and technology, and is home to world-class museums, cultural arts institutions, and sprawling public parks. Pittsburgh has also been making a name for itself as a craft beer haven, with more than 60 local breweries.”
The SpringHill Suites by Marriott Pittsburgh Mills has 115 spacious suites and is located at 3015 Pittsburgh Mills Blvd., Tarentum, PA, within 6 miles of the world-renowned Oakmont Country Club, which has hosted many unforgettable golf tournaments. Guests can enjoy a 24-hr fitness center, a heated indoor pool, hot complimentary breakfast buffet, meeting/function space, and business center.
The Residence Inn by Marriott Pittsburgh Monroeville/Wilkins Township has 124 well-appointed Studio, 1-Bedroom and 2-Bedroom suites emphasizing the comfort of the extended stay guest. Within 11 miles of downtown, the hotel is located at 3455 William Penn Highway, Pittsburgh, PA. Guests can take advantage of the fully-equipped kitchens in every suite, an indoor heated pool, outdoor sports court, free full American & hot breakfast options, 24-hour fitness center, meeting spaces, and laundry facilities.
HREC Investment Advisors exclusively represented the seller during this transaction. The marketing and negotiations were led by Scott Stephens (Chief Operating Officer & Senior Principal), Ketan Patel (Managing Director), Phil White (Vice President) and Mark von Dwingelo (Senior Vice President) as the broker on record for Pennsylvania.
About the Vista Group of Companies:
From its offices in Kitchener- Waterloo, ON, members of the Vista Group of Companies own and operates 500,000 square feet of commercial office buildings, shopping malls and retirement home properties in Ontario. Vista applies sophisticated information management systems that form the basis of a highly efficient and effective organizational structure, and is well-positioned to leverage its quality assets into unique value for potential purchasers. The Vista Group is very proud of its diverse executive team, and has acquired a reputation for proven performance at all of its properties. Vista Hospitality is actively seeking to acquire new assets, and invites disclosure of both market and off-market business opportunities from industry participants.
About Vista Property Management:
Offering travelers more than 1,750 guestrooms at its hotels and resorts in Pennsylvania, New York, Vermont, Maryland, South Carolina, Florida and Ontario, Binghamton, NY based Vista Property Management has received significant recognition for its excellence in hospitality management, including: TripAdvisor Certificates of Excellence Awards (Marina Inn at Grande Dunes 2011-2020, Holiday Inn Binghamton Downtown 2014-2018, Crowne Plaza Kitchener-Waterloo 2016-2020, Sheraton Baltimore Washington Airport-BWI, Crowne Plaza Orlando-Downtown 2017-2020); AAA Four Diamond Award Recipient (Marina Inn at Grande Dunes 2006-2022); IHG Best Partner Awards (Holiday Inn Binghamton Downtown 2017, Crowne Plaza Orlando-Downtown 2017, and Crowne Plaza Kitchener-Waterloo 2017); and an IHG Certificate of Achievement (Holiday Inn Binghamton Downtown 2018). Vista Property Management is presently completing a multimillion-dollar rebranding of its Radisson Hotel JFK Airport, together with significant renovations to the Crowne Plaza Orlando-Downtown and the recently acquired Courtyard by Marriott Burlington Williston, VT.
About HREC Investment Advisors:
HREC® is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting including market studies, and litigation support. With offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital, and hotel/casino specialization.
