Days Inn & Suites Clovis

$3,950,000

2700 Mabry Drive, Clovis, NM 88101

Details

  • $3,950,000
  • Economy

Investment Overview:

The Days Inn & Suites of Clovis, N.M. is a 114-room, exterior corridor, limited-service hotel. Common area amenities include parking for cars and buses, outdoor swimming pool, business center, meeting room, and guest laundry facilities. With recent renovations, the property is a turnkey asset, operated by third-party management. Giving a new owner/operator substantial upside to run an aggressive hands-on operation.

The Days Inn & Suites of Clovis, N.M., is offered for sale at $3.95M, or $34,649 per room at a capitalization rate of 12.73 percent based on TTM April 2017. The property has continued to grow in top line revenue since the full renovation of the property. As of 9.21.2017 the property has outperformed the previous year by $160,000 plus. With the current top line and minimal PIP for the new investor, a leveraged 5 year return of 48.67%

The hotel is experiencing a strong upward revenue trend: its revenue is up around 35 percent year-to-date compared to 2016. The hotel is gaining healthy increases in both ADR and Occupancy levels.

This is an excellent opportunity for an investor to acquire a turnkey and stabilized asset with substantial upside, well-below replacement cost.

Property Overview:

The Days Inn & Suites Clovis is a 114-room, exterior corridor, economy hotel located in Clovis, New Mexico. The hotel was constructed in 1962 and is positioned on 5 acres. Offered amenities include bus/truck parking, business center, barbecue grills, fitness center, laundry facilities, and indoor swimming pool. The property also features 2,909 square feet of rentable banquet and meeting space, and offers event planning services, which contribute to additional hotel revenues. Guest rooms offer microwaves, refrigerators, work desks, updated bathrooms, and flat screen televisions. Suites with spacious living areas are also available.

Location Overview:

Clovis is the county seat of Curry County, New Mexico. The city is situated just 10 miles west of the New Mexico/Texas border and 100 miles from Lubbuck, Texas. Days Inn & Suites Clovis is situated in close proximity to many area demand generators. It is less than two miles from Hillcrest Park Zoo and Hillcrest City Park, which hosts numerous local events that influence room demand. The property is also less than one mile from Clovis Community College, Eula Mae Edwards Museum of Art, and less than one mile and directly across the highway from Curry County Events Center and Curry County Fairgrounds. The hotel is also under 10 miles from Cannon Air Force Base, which operates with a workforce of approximately 5,800 military and civilian personnel.

 

Broker of Record:
Matthew Reeves
License: NM: 19583
Tel: (505) 585-5700

Agent for this listing

Joseph Jaques

Associate, National Hospitality Group
Office: (972) 755-5171
Mobile: (979) 229-7673
Fax: (972) 755-5210
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