Vista Hospitality pays more than $20 million for two Pittsburgh-area hotels

In a hotel market in flux with properties trading often, Binghamton, New York-based Vista Hospitality Group has bought the SpringHill Suites by Marriott at the Pittsburgh Mills and the Residence Inn by Marriott in Wilkins Township.

The company announced the buys in late March but the deeds for the sales only recently transferred.

Public records indicate that an affiliate of Vista bought the hotel at Pittsburgh Mills for $11.37 million, a price that translates to more than $98,900 a suite for the property and its 115-suite capacity.

Vista paid a little more than $10.8 million for the 124-suite Residence Inn in Wilkins Township, or more than $87,100 per suite.

In an announcement, Vista described the buys as a unique opportunity to buy strong properties in a developing market.  Vista noted the SpringHill Suites is within six miles of Oakmont Country Club and includes amenities such as a fitness center, a heated indoor pool, hot complimentary breakfast buffet, meeting/function space and a business center.

The Residence Inn is located at 3455 William Penn Highway and serves the Monroeville business corridor.

The company’s website for the Vista Group of Companies indicates a value-add approach to buying hotels as well as commercial real estate and retirement properties, among others.


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