Institutional Sale | Dual Brand Hilton Portfolio

Highlights:

• Dual-Brand Hilton Portfolio – 505 Keys – A rare opportunity to acquire the fee simple interest in two concrete-constructed, Hilton-affiliated hotels sharing a single Northern New Jersey campus: the 353-room full-service Hilton Parsippany and the 152-room select-service Hampton Inn Parsippany. The pairing captures demand across both the upscale full-service and select-service segments while sharing amenities and back-of-house efficiencies.
• Highly Desirable Hilton Brand Affiliation – Both assets benefit from affiliation with Hilton Worldwide—one of the largest hotel owners, operators, and franchisors globally, with 23 brands, 7,600+ properties, and nearly 1.2 million rooms—and the widely recognized Hilton Honors loyalty platform driving repeat demand.
• Offered at a Significant Discount to Replacement Cost – With construction costs at all-time highs, a new owner acquires two well-built, upscale hotels at pricing below replacement cost in the Morris/Sussex/Warren market, where high land cost, a difficult entitlement process, and scarce developable land create meaningful barriers to new supply.
• Unencumbered by Management and Debt – The Hotels are offered free of any management agreement and without an assumption of debt, giving a new owner/operator an open runway to revamp operations, implement cost-control initiatives, and employ more aggressive revenue-management strategies from day one.
• Full-Service Supply in Structural Decline – The competitive set has contracted sharply, with 2,600+ rooms removed from the market over the past six years—including the 427-room Hilton Meadowlands, 338-room Hilton Woodcliff Lake, 360-room Hilton JFK Airport, and others—opening the door for a strong sales team to recapture regional meetings and group business.
• Extensive Meeting and Event Space – The portfolio offers nearly 24,000 SF of combined event space, anchored by one of the Parsippany market's largest ballrooms at 10,080 SF (1,200-person capacity) across 37 flexible meeting spaces—positioning the Hotels to win corporate functions, weddings, mitzvahs, and social events amid robust post-pandemic demand for versatile venues.
• Prime Corporate and Life-Science Location – Set among nearly 14 million SF of office space with three Fortune 1000 headquarters nearby, at the intersection of I-287, I-80, and I-280, and within 50 miles of Newark Liberty (22 mi), LaGuardia (40 mi), and JFK (45 mi)—with regional air traffic at record highs.
• Clear Path to RevPAR Upside – Reduced supply, durable consumer demand, near-term demand catalysts, and full operational control together position the dual-brand portfolio for meaningful RevPAR growth and cash flow generation following brand-required renovations.

Description:

JLL, in partnership with ACE Exchange, is pleased to present the opportunity to acquire the fee simple interest in the 353-room Hilton Parsippany and the 152-room Hampton Inn Parsippany (the "Hotels")—a 505-key, dual-brand hospitality portfolio at 1 Hilton Court on ±15.76 acres in high-barrier-to-entry Northern New Jersey. The two concrete-constructed, Hilton-affiliated hotels share a single campus and amenity base, pairing an upscale full-service asset with a well-positioned select-service asset to capture demand across complementary market segments. The location provides direct access to Route 10, I-80, I-287, I-280, and Route 46, creating seamless connectivity to New York City, Newark Liberty International Airport, and the broader tri-state region, and positioning the Hotels as ideal bases for business, corporate group, and leisure travelers targeting Northern New Jersey's corporate corridors and Manhattan's central business district.



The Hotels are offered unencumbered by any management agreement and without an assumption of debt, and at a significant discount to replacement cost at a time when construction costs sit at all-time highs. This gives an incoming owner/operator full latitude to revamp operational strategies, implement cost-control initiatives, and pursue more aggressive revenue management from closing. Within the Morris/Sussex/Warren lodging market, high land cost, a challenging entitlement process, and a lack of developable land constrain new supply—reinforcing an attractive going-in basis alongside strong, durable lodging fundamentals.

Market dynamics further strengthen the thesis. Full-service supply across Northern New Jersey has declined materially, with 2,600-plus rooms removed over the past six years—including the 427-room Hilton Meadowlands—reducing direct competition and opening room for market-share recapture. Combined with a prime location among nearly 14 million SF of office space and three Fortune 1000 headquarters, nearly 24,000 SF of flexible meeting and event space, and the strength of the Hilton brand and Hilton Honors platform, the offering represents a compelling value-add opportunity to drive RevPAR growth and cash flow through targeted, brand-required renovations in a premier Northeast market.

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