JLL's Hotels & Hospitality Group has arranged the sale of The Centennial Hotel, a 32-room Victorian-era boutique property at 96 Pleasant Street in Concord, New Hampshire, to Lord Hotels. Sparta Properties divested the asset in a transaction announced July 7, 2026.

The 1.85-acre site, built in 1898 and converted to a hotel in 1996, sits in downtown Concord within walking distance of the New Hampshire State House, the new Federal Courthouse, and the University of New Hampshire School of Law. Between 2023 and 2024, Sparta Properties completed capital improvements — guest room renovations, a full restaurant refurbishment, and building systems upgrades — that JLL's listing team positioned as a central selling point.

What is Lord Hotels buying?

Lord Hotels acquired a fully improved asset with multiple revenue streams. The 32 guest rooms span several configurations. The property includes 1,785 square feet of meeting and event space, a fitness center, business center, complimentary Wi-Fi, on-site parking, an EV charging station, and continental breakfast service.

The on-site Granite Restaurant & Bar holds 65 dining-room seats and 9 bar seats, operates as an upscale dinner-only venue with a modern Mediterranean menu rooted in New England ingredients, and earned a Wine Spectator 2019 Award of Excellence. That F&B program, paired with the meeting footprint, gives the buyer two non-room revenue levers in a state-capital market dominated by government and medical demand.

What demand drivers underpin the deal?

Concord anchors New Hampshire's seat of government and a five-block corridor that includes Concord Hospital — New England's largest hospital outside of Boston — and the Dartmouth-Hitchcock Clinic. The hotel's positioning targets corporate, legal, medical, and government travelers who book independently or through negotiated corporate rates.

Interstate 93 lies just over a mile away. Boston sits 90 minutes south, Manchester 30 minutes, and Portsmouth 25 minutes. Manchester-Boston Regional Airport is 55 minutes from the front door. Those drive times shape the property's catchment for day-trip group business and overnight weekend leisure from the Seacoast and White Mountains, both within an hour's drive.

What did JLL say about buyer demand?

JLL's Hotels & Hospitality team, led by Senior Managing Director Alan Suzuki, represented Sparta Properties. John Linell served as JLL's New Hampshire Broker of Record.

"We continue to see high-net-worth individuals and families gravitating toward boutique hotel acquisitions, particularly assets with strong stories and strategic locations like The Centennial Hotel," Suzuki said. "This Victorian-era property offered an ideal combination of recent capital improvements, unencumbered operations and immediate upside through hands-on management and food & beverage optimization."

What does the sale signal for the boutique market?

JLL's Capital Markets group, with more than 3,000 specialists across nearly 50 countries, continues to position unencumbered secondary-market boutiques as targets for private capital. The Centennial's mix of institutional demand drivers — government offices, a major hospital, a law school, and federal court construction — gives the asset a base that family offices and high-net-worth buyers typically underwrite at tighter cap rates than leisure-resort comparables.

Lord Hotels' operating plan will determine whether the asset tilts further into corporate-and-government midweek business or expands the dinner-only F&B into a broader daypart and events revenue model. Either path will re-price the trade area for the next boutique listing JLL brings to market in the region.