Hotel For Sale
46,022 Sq Ft
Focusing on increasing the Hotel's operational efficiency, a new owner can see a significant boost in performance, seizing a larger portion of top-line revenues. The Property has been consistently outperforming the competitive set in both occupancy and ADR, reaching a RevPAR penetration index of ±150%. Since being converted to Super 8 in 2017, the hotel has capitalized on a large increase in revenues, realizing RevPAR growth upwards of ±60%. The expenses include provisions for a ±4% reserve for capital replacement. The Hotel is offered fee simple, unencumbered by a management contract and debt.
This offering presents a new owner the opportunity to acquire a value-add asset within the Wichita MSA. An investor, looking to act as an owner-operator, can maximize profits through a reduction in management costs for the Property.
Property listed by: Colby Haughness KS License:BR000335677