The 165-room, 6-story Hampton Inn & Suites Newark-Harrison-Riverwalk is ideally situated adjacent to downtown Newark (1.5 miles) and approximately 1.7 miles from the Red Bulls Arena, 1 mile from the Harrison PATH Station in Harrison offering an 18-minute connection to Manhattan, and 6 miles from the Newark Liberty International Airport. The 104,509 Sq. Ft. hotel, a fully modular-constructed structure was built in 2004. The hotel is currently undergoing an approximate $4.1 M property improvement plan (PIP) of which $1,409,155 has been completed.
The Hampton Inn & Suites Newark – Harrison Riverwalk is a mid-rise, limited service hotel and provides a complimentary breakfast, has an on-site bar, 24-hour fitness center, business center and complimentary Wi-Fi. The hotel also has a 720 SF Meeting Space.
The hotel is in close proximity to the PATH Rapid Transit Station which is currently undergoing a $256 M renovation. The PATH Rapid Transit System is open 24 hours a day, 7 days a week year round. It travels between New York and New Jersey and will serve as a catalyst for further development of the surrounding area. Via the PATH, it is only a short 18 minute ride to Manhattan. The Newark/Harrison area is considered a transportation HUB with the PATH Station, Newark Penn Station, the NJ TRANSIT, the nations largest statewide public transportation system which provides more than 938,500 weekday trips on 257 bus routes (19,000 bus stops), three light rail lines (62 stations), and 12 commuter rail lines (166 rail stations) throughout the state. Newark Liberty International Airport hosted 37.5 million passengers in 2015 and with the replacement of Terminal A is expected to generate more passengers and provide more jobs. The Port of Newark-Elizabeth Marine Terminal, part of the Port of New York and New Jersey is the principal container ship facility for goods entering and leaving the New York metropolitan area and the northeastern quadrant of North America.
Newark is home to over 50 Fortune 500 companies and employs more than 140,00 people. Newark has a well-diversified economy with key industries driving lodging demand including insurance, transportation, technology, education, healthcare, tourism and legal service. Some of the corporations located in Newark and Harrison are: Panasonic, Prudential, Audible.com, IDT, PSEG, Blue Cross Blue Shield, United Airlines, Biotrail, Broadridge with Mars Wrigley Corporate Headquarters currently under construction.
Colleges and Universities have more than 60,000 students along with faculty and staff and have recent investments of over $300 M. Colleges and Universities include Rutgers University Newark, Rutgers Biomedical and Health Sciences, New Jersey’s Science & Technology University, Seton Hall University School of Law and a branch of Berkeley College.
There are approximately 1,546 licensed hospital beds with more than 1,800 doctors and than 6,700 employees. Within the area are 3 major hospitals: Newark Beth Israel Medical Center – Barnabas Health, Saint Michael’s Medical Center and University Hospital. There are also numerous Newark Community Health Centers.
Entertainment and sports venues are Prudential Center, Red Bull Arena, New Jersey Performing Arts Center, Newark Museum and Grammy Museum. The hotel is only 10 miles from the Statue of Liberty and 13 miles from Time Square.
Hampton® Hotels, part of Hilton Worldwide, Inc., is an award winning leader in the mid-priced hotel segment which include Hampton Inn, Hampton Inn & Suites and Hampton by Hilton. Hampton Hotels serve the value-conscious and quality-driven travelers with more than 2,346 properties totaling more than 200,000 rooms in 21 countries and territories. Hampton Hotels offers high-quality accommodations and amenities and delivers excellent customer service defined as “Hamptonality” which is backed by the 100% Hampton Guarantee. Hampton Hotels has been ranked No. 1 on Entrepreneur magazine’s 2015 Franchise 500 list for the 4th time in the past 5 years. Source: Hilton.com
Hilton Worldwide operates 14 brands in 106 countries with 5,300+ hotels, resorts and timeshare properties comprising more than 705,196 rooms making them one of the world’s leading hospitality companies. For over 95 years, Hilton Worldwide has been dedicated to continuing its tradition of providing exceptional guest experiences. Hilton’s Brand portfolio ranges from iconic luxury properties to innovative focused-service hotels and is one of the highest performing and most diverse in the industry. Brands included in the Hilton portfolio are: Waldorf Astoria, Conrad, Canopy by Hilton, Curio – A Collection by Hilton, DoubleTree, Embassy Suites, Hilton Garden Inn, Hampton Inn & Suites, Homewood Suites, Home 2 and Hilton Grand. See the numerous awards Hilton brands have received over the year at: Http://newsroom.hilton.com/index.cfm/page/7004/n/1127.
About Harrison, New Jersey
Harrison, a suburb of Newark, New Jersey, is located in Hudson County and has a population of 13,620 according to the 2010 Census. Once considered “the beehive of industry”, the town is undergoing a residential renewal along the Passaic River.
The Harrison Waterfront Redevelopment Plan invited developers to submit plans that capitalize on the presence of the Harrison PATH Station and the Passaic River with a 275-acre area that covers 35% of the whole town. The Plan seeks to unite the developer’s proposals with a design theme that includes motifs from Harrison’s industrial, cultural and environmental history as a means of fostering a new identity for Harrison that provides a variety of mixed-use, transit-oriented, pedestrian-scale development that will make Harrison a regional designation. Source: Harrison New Jersey – Wikipedia
About Newark, New Jersey
Newark is the most populous city in New Jersey and is the seat of Essex County. It is also one of the nation’s major air, shipping, and rail hubs and had a population of approximately 281,764 in 2016. Its location along the mouth of the Passaic River (where it flows into Newark Bay), makes the city’s waterfront an integral part of the Port of New York and New Jersey. Today, Port Newark-Elizabeth is the primary container shipping terminal of the busiest seaport on the American East Coast. In addition, Newark Liberty International Airport was the first municipal airport in the United States, and today is one of its busiest.
Several leading companies have their headquarters in Newark, including Prudential, PSEG, Panasonic Corporation of North America, Audible.com, IDT Corporation and Manischewizt. A number of higher education institutions are also located within the city, including the Newark campus of Rutgers University (includes law and medical schools and the Rutgers Institute of Jazz Studies); the New Jersey Institute of Technology and Seton Hall University’s law school. The U. S. District Court for the District of New Jersey sits in the city as well. Local cultural venues include the New Jersey Performing Arts Center, Newark Symphony Hall, the Prudential Center and the Newark Museum. Source: Newark New Jersey – Wikipedia
About Excel Group – Project Partner
The Excel Group is a skilled real estate investment and asset management firm. With a focus on hospitality, they innovate and execute strategies that are aligned with shifts in economic cycles.
The Excel Group is a privately held firm focused on disciplined, cycle-appropriate hotel real estate acquisitions and asset management. Headquartered in Washington, D. C., the group owns and manages 15 hotels valued from $2 million to $25 million. They specialize in fee simple assets and hotel loans in the Eastern U. S. Their fully integrated platform enables them to achieve risk-adjusted returns that consistently outperform industry averages.
Their Executive Team consists of Shoham Amin, Managing Partner, Daniel Linn, Vice President, Benjamin Hur, Vice President Finance & Accounting, Jeff Bartholomew, Vice President – Development and Robert Brewer, Director – Acquisitions and Development. They value performance, relationships, transparency and integrity. Their “bigger and broader mission” is “doing right by their investor partners”.
With progressive strategies, they pace themselves one step ahead of the curve. Because of this, they are able to leverage cyclical growth as well as identify and execute on opportunities presented by plateaus and downturns in the market. Source: http://excelgp.com
About Real Hospitality Group (RHG) – Property Management Company
Real Hospitality Group was founded in 2010 and operates their business with these disciplines at the core of their company: reliability, efficiency, accessibility, and loyalty. The founders understand the importance of owner relationships and the management team focuses on delivering the highest returns possible on their owner’s investments by striving to accommodate a structure of support, communication and asset management.
The company’s core values are seen in every aspect of their operation. They deliver their core values in the daily operational systems, sales direction and revenue management strategy process. Their fundamental formula for success includes associate training development and a focus on guest experience delivery and satisfaction levels, which translates to top market position, high performing RGI and maximum NOI. Source: https://www.realhospitalitygroup.com