Holiday Inn & Suites Opelousas Slidell Portfolio

$11,500,000

372 Voters Rd, Slidell, LA 70461

Details

  • $11,500,000
  • Limited Service

Investment Overview:

Marcus & Millichap is pleased to exclusively offer for sale the Holiday Inn Hotel & Suites Opelousas and the Holiday Inn Hotel & Suites Slidell. Both properties are strategically located with high visibility along interstate highways, and is positioned to accommodate growth from nearby Lafayette and New Orleans markets.

The new property owner will be required to complete the PIP as mandated by the franchisor IHG However, there is an option to convert the Opelousas asset to a Holiday Inn Express & Suites. The portfolio is offered unencumbered of management, but comes encumbered by nonrecourse debt at a fixed rate of 5.4 percent that must be assumed by new investor.

Properties may be sold as individual asset purchase. Detailed historic operating documentation and third-party reports can be requested from the agent. Prospective purchasers are encouraged to visit the subject property prior to submitting offers. However, all property tours must be arranged with the Marcus & Millichap listing agents. Please do not contact the tenants, on-site management or staff without prior approval.

Property Overview:

Holiday Inn Hotel & Suites Opelousa:
The Holiday Inn Hotel & Suites Opelousas is a 75-room limited-service hotel located in Opelousas, Louisiana. The hotel sits on a premium 1.53- acre lot and is highly visible along the Interstate 49. The hotel features common amenities include truck/RV/bus space available, exercise facility, business center, meeting room, heated indoor pool, whirlpool, cocktail lounge, and communication kits with visual alarms. Standard guest room includes in-room heating and A/C controls.

Holiday Inn Hotel & Suites Slidell:
The Holiday Inn Hotel & Suites Slidell is a 91-room limited-service hotel located in Slidell, Louisiana. The IHG Green Engage hotel sits on a premium 2.53-acre lot and is highly visible along the Interstate 10. The hotel features common amenities such as 18 wheeler truck/RV/bus space availability, exercise facility, business center, heated indoor pool, indoor whirlpool, outdoor whirlpool, cocktail lounge, and communication kits with visual alarms. The meeting room is 1,036 square feet and can accommodate up to 75 people. Standard guest room includes in-room heating and A/C controls.

Location Overview:

Opelousas, Louisiana:
Opelousas, Louisiana is seated in the St. Landry Parish and lies at the junction of Interstate 49 and US Route 190. Known as the “Spice Capital of the World” corporate office houses and major employers in Opelousas are Tony Chachere (.4 miles), Targil Inc (2.8 miles), Savoie’s Sausage & Food Products (4.5 miles), and Ventura Foods LLC (2.9 miles). The Evangeline Downs Racetrack & Casino employees 600 individuals and offers great recreation that attracts thousands of people yearly which is located less than two miles from the hotel. The city also is home to other corporate partners such as Alon USA Energy, C&G Corporation, AGC Flat Glass North America, Inc, Noble Plastics, FedEx Ground Distribution Center, and Louisiana Wholesale Drug Co. Other nearby attractions include the Arlington Plantation and Le Vieux Village. Business and vacation travelers have easy access to the Lafayette Airport located 20 miles from the Holiday Inn Hotel & Suites Opelousas. Additional demand generators include the Cajundome Convention Center, Evangeline Downs Racetrack & Casino, and Artisan Creative Catering events.

Slidell, Louisiana:
Slidell, Louisiana, a suburb of New Orleans, is seated in the St. Tammany Parish along the Interstate 10. The city is the global headquarters for an automotive manufacturer and military contractor Textron Marine & Land Systems (2.6 miles) which is a major employer in the city. Other corporate neighbors are the Department of Defense (3.8 miles), RollsRoyce Commercial Marine (42.1 miles), Lockheed Martin Manned Space (20.2 miles), General Dynamics Info Tech (28.5 miles), PBF Energy Chalmette Refinery (26.6 miles), Valero Meraux Refinery (27.7 miles), Folgers Coffee Chalmette (19.1 miles), Air Products & Chemicals (19.5 miles), Rain CII Carbon Plant & Terminal (26.9 miles), Dominos – American Sugar Refining (29.9 miles), and distribution centers associated Wholesale Grocers, Rooms to Go, and Blue Bell Creameries. Furthermore, film production, sound facilities, and studios have a growing presence in New Orleans and nearby suburbs. There are multiple room demand generators such as the Silver Slipper and Hollywood Casino, New Orleans’ French Quarter, and Louisiana Superdome, are all less than 30 miles from Holiday Inn Hotel & Suites Slidell and attracts thousands of vacationers and business travelers alike. New Orleans also hosts world-renowned events such as Mardi Gras, Essence Fest, and Jazz Fest. The Louis Armstrong New Orleans International Airport is a short 40-minute drive from the hotel.

**Properties can be Sold Individually or as a Portfolio**

Agent for this listing

Allan Miller

First Vice President Investments | Senior Director, National Hospitality Group
Office: (512) 338-7831
Mobile: (512) 203-9154
Fax: (512) 338-7810
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Manish Sthanki

Associate, National Hospitality Group
Office: (225) 753-4881
Mobile: (225) 892-4181
Fax: (225) 376-6710
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