Photo courtesy of CBRE

One of the small cluster of hotels by the Mall of New Hampshire and Interstate 293’s Exit 1 has traded hands for $8.5 million. 

The Holiday Inn Express & Suites Manchester-Airport, located at 1298 S. Porter St., opened in 2003. The seller, an affiliate of Massachusetts-based Linchris Hotel Corp. according to public records, bought the hotel for $8.2 million in 2013. The buyer was an LLC controlled by a person who appears to own at least one other hotel, a Best Western in Hampton. 

Dave McElroy and Scott Hutchinson of CBRE Hotel Brokerage and Investment Sales represented the seller.  

“This hotel offers a unique opportunity to take a position in a steady and growing market at a time when business travel is making a double-digit comeback,” McElroy said in a statement. “The Holiday Inn Express will allow Manchester Hospitality to capture the leisure demand, which has already returned to pre-pandemic levels. The buyer is planning a complete renovation, which will kick-start the recovery started under the Singer family’s ownership and Linchris Hotels management.”