SVN Chicago Commercial has closed the sale of the Hilton Garden Inn Mattoon, a recently built select-service hotel in Mattoon, Illinois, for $17.1 million. The 102-room property is located at 100 Coles Centre Parkway and represents a notable hospitality transaction in a regional market.
Delivered in 2022, the Hilton Garden Inn Mattoon was developed as a prototype for Hilton’s updated branded layout. The hotel features a contemporary design intended to reflect Hilton’s latest standards for guest experience and operational efficiency. As a newer, brand-aligned asset, the property positions itself to meet evolving expectations from both travelers and hospitality investors.
The hotel was acquired by Lekhraj Ahuja, described as a local investor and experienced hotel operator. The acquisition price equates to a reported 3.6x room revenue multiplier and approximately $167,000 per key. These metrics indicate that the asset traded at a strong valuation level for a recently constructed, flag-affiliated hotel situated outside a primary metropolitan area.
SVN Chicago Commercial handled the disposition on behalf of the seller. Derek Gonsch of SVN Chicago Commercial represented the seller in the transaction. The firm characterized the deal as evidence that institutional-quality, newly constructed hospitality properties continue to attract buyer interest even in tertiary markets, particularly when they carry a strong national brand and present perceived operational upside.
The Hilton Garden Inn Mattoon sale highlights continued capital flows into modern, limited- and select-service hotels that conform to current corporate brand standards. Investors in this segment remain attentive to property age, franchise positioning, and the potential to drive room revenue performance in markets that may not have the pricing benchmarks of larger urban or resort locations.
While financial details beyond the purchase price and revenue-based metrics were not disclosed, the transaction underscores that well-located, newly delivered hotels with national flags can command premium pricing in regional markets when supported by up-to-date design and alignment with brand initiatives. The closing adds another data point for investors evaluating valuation expectations and underwriting assumptions for comparable hospitality assets in similar geographies.
