Atrium Hotel & Conference Center

$3,995,000

1400 N Lorraine St, Hutchinson, KS 67501

Details

  • $3,995,000
  • Midscale

Investment Overview:

Marcus & Millichap’s National Hospitality Group, as an exclusive broker, is pleased to offer for sale the Atrium Hotel & Conference Center in Hutchison, Kansas. This 216 unit property’s over 30,000 square feet of meeting and banquet space serves as the primary gathering place for the regional conferences and special events. The property is offered at $18,495 per room, well below replacement cost. Current ownership is absentee, offering major opportunity for upside to an onsite owner/operator. The hotel is delivering an EBITDA of only 16.5%, well below the standard for a full service property of this size There is also an opportunity to brand with a nationally recognized flag, which is more attractive to the state associations and groups seeking a destination hotel in the area with brand identity. ​

A new owner will be able to capitalize through efficiencies in operation and a strong sales and marketing effort. The current owner has temporarily covered the indoor pool, thus diminishing the appeal of the property to family travelers.

Property Overview:

The Atrium Hotel & Conference Center Hutchison is a 216 room hotel.  The Conference Center offers over 30,000 square feet of event space to host events and wedding rooms are available. The event space is capable of accommodating groups from 50 – 1200 guests.  The hotel serves as the gathering place for major regional events including the Kansas State Fair, state and regional association gatherings, as well as state and regional governmental meetings. There is an opportunity to create upside by branding with a national franchise. Also, the guest room amenities are a flat-screen television, refrigerator, and microwave.

Location Overview:

​Hutchinson is the largest city seated in Reno County, Kansas and is located on the Arkansas River. A major state event that demands room generation include the Kansas State Fair that attracts approximately 350,000 people from all 105 Kansas counties and several other states, which is less than 2 miles from Atrium Hotel & Conference Center. The property is conveniently located less than 1 mile from the Hutchinson Mall and less than 2.5 miles from the Hutchison Airport. Furthermore, the other local attractions are less than 4 miles from the hotel and they are the Kansas Cosmosphere and Space Center Strataca, and the Underground Salt Museum.

Agent for this listing

Lisa Hankamer

Senior Associate, National Hospitality Group
Office: (713) 452-4247
Mobile: (713) 992-3343
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Dustin Robinett

Associate, National Hospitality Group
Office: (816) 410-1034
Mobile: (816) 547-8112
Fax: (816) 410-1020
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