Holiday Inn Hershey| North Avenue Capital Story
Visitors to America’s “Chocolate City,” and other nearby attractions, will soon have an even more pleasant place to rest. Thanks to the collaboration of North Avenue Capital and the USDA, the Holiday Inn in Grantville, Pennsylvania, which serves the greater Hershey area, will get a facelift under new ownership.
Strategically positioned just off Interstate 81, 20 minutes outside of the capital city of Harrisburg and 15 minutes from Hershey, the hotel will continue to serve families, road-trippers, and business travelers alike. Tourism is an important industry in the area as nearby attractions include Hersheypark, Memorial Lake State Park, the Hollywood Casino at Penn National Race Course, and the Antique Automobile Club of America Museum.
The $13.5 million USDA Business & Industry Loan facilitated the acquisition of the property by new ownership, will fund the remodeling of the existing facilities, and, most importantly, will preserve 68 jobs.
“Under the new owners, and with the planned improvements, the hotel will offer comfortable and affordable lodging to those visiting the Harrisburg and Hershey areas,” said North Avenue Capital Vice President of Commercial Lending Edgar Escobar. “Thanks to the solid teamwork between the USDA and NAC, both business and personal travelers will enjoy an upgraded night’s rest in Grantville under the Holiday Inn flag.”
Competitive cash covered in cocoa? Now that’s a sweet deal.
Fill out the information below for a free loan review with one of our Loan Specialists. To learn more about USDA Business Loans, visit our Education Center. Questions? (904) 569-5529
*Be advised, we do NOT lend: USDA Home Loans, Residential Loans, PPP Loans, nor farm/agriculture loans.