Baymont Inn & Suites

$5,600,000

1055 Kelly Johnson Boulevard, Colorado Springs, Colorado 80920

Details

  • $5,600,000
  • Limited Service

Investment Overview:

The Baymont Inn & Suites Colorado Springs is priced at $5.6M which is 3.85 times the April 2018 Trailing Twelve Months room revenue or $86,153 per key. The property was converted to a Baymont Inn & Suites from a Comfort Suites in late April 2017. When the property was rebranded, the existing ownership discontinued the use of the existing management company. Due to the removal of the management company the two available P&Ls have over lapping expenses. Therefore the 2017 P&L has industry standard expenses while the gross revenues represents the actual income for the property in 2017. The Year 1 Pro-Forma is a 2018 budget with industry standard expenses. The hotel is on pace to exceed the budgeted $1.6M in gross revenues.

Based on the 2018 Year 1 Pro-Forma the hotel offers a NOI of $570,344. At a list price of $5.6M, this offers investors a capitalization rate of 10.18 percent. With these numbers a new investor can expect a 20 percent cash-on-cash returns assuming a 20% down payment with a loan amortized over 25 years at a 6 percent interest rate.

Due to numerous recent renovations completed by the existing ownership, a new investor can assume a minimal PIP from Wyndham Worldwide upon transfer.

Property Overview:

The Baymont Inn & Suites Colorado Springs is a three-story, 1996 construction, 65-room, interior corridor hotel located in close proximity to the Colorado Springs Airport. The hotel is an all-suites hotel that was originally built as a Comfort Suites. The hotel offers spacious and well appointed suites which include a microwave, mini refrigerator, flat screen HD television, and work space. The Baymont Inn & Suites also offers multiple common area amenities such as a heated indoor pool, heated outdoor pool, jetted hot tub, and a business center.

Location Overview:

The Baymont Inn & Suites Colorado Spring is located in Colorado Springs, Colorado and there are multiple business and leisure demand generators within the region. The Air Force Academy is less than two miles from the subject property and hosts multiple events, daily tours and undergraduate education. Furthermore, the Sierra Completions, a subsidiary of Sierra Nevada Corporation, which is constructing an $88 million campus that will house 2,100 employees is within 20 miles of the hotel. The facility is expected to boost activity at the airport, anchor the areas emerging commercial aerospace industry, and generate a $5 billion impact on the states economy. Additional leisure demand drivers include the Garden of the Gods, Seven Falls, Pikes Peak, Cripple Creek, Cave of the Winds, the Olympic Training Center, Memorial Hospital, Penrose Hospital, New Life Church and more.

Agent for this listing

Skyler Cooper

Vice President Investments, National Hospitality Group
Office: (303) 328-2036
Mobile: (540) 522-9115
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