Tours Available | 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:

Tours Available: Tours available Wednesday, August 26th + Thursday, August 27th and Tuesday, September 1st. To schedule please reach out to Philip White (philip.white@jll.com).

JLL, in partnership with ACE Exchange, is pleased to present the fee-simple acquisition of the 353-room Hilton Parsippany and 152-room Hampton Inn Parsippany—a 505-key, dual-brand portfolio situated on ±15.76 acres in Northern New Jersey.

The Hilton-affiliated hotels share a single campus and amenity base, offering convenient access to Routes 10 and 46, I-80, I-287, and I-280, with connectivity to New York City, Newark Liberty International Airport, and the broader tri-state region.

Offered free of management agreements and existing debt, the portfolio provides an incoming owner with immediate operational flexibility and a basis significantly below replacement cost. Limited new supply, declining full-service room inventory, proximity to nearly 14 million SF of office space, approximately 24,000 SF of meeting and event space, and the strength of the Hilton Honors platform create a compelling value-add opportunity to grow RevPAR and cash flow through targeted renovations and improved operations.

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