- Prime Location: Adjacent to Northwoods Mall and off Interstate 74, the property offers exceptional accessibility and visibility to travelers in Peoria, Illinois.
- Comprehensive Amenities: Features include a seasonal outdoor pool, barbeque grills, fitness center, breakfast area, business center, on-site guest laundry, and bus/truck/RV parking.
- Recent Renovations: Over $650,000 in guestroom renovations in 2023 with new paint, LVT flooring, upgraded furniture, lighting, window treatments, and first-floor siding replacement.
- Well-Maintained Exterior: A $100,000 parking lot upgrade completed in 2022 ensures excellent curb appeal and guest-friendly conditions for long-term asset value.
- Strong Market Demand: Proximity to Bradley University, Caterpillar HQ, OSF Healthcare, and Peoria attractions supports consistent business and leisure travel demand.
- Future Growth Catalyst: A new casino development planned for 2026 is expected to boost tourism, strengthen hospitality demand, and enhance long-term revenue potential.
- Heightened Room Revenue: In the trailing twelve months, the hotel experienced a notable 4.8 percent increase in room revenue. This trend presents several advantages for potential buyers, including additional capital for renovations and enhanced cash flow.
- Attractive Room Revenue Multiplier: The hotel is attractively priced at a Room Revenue Multiplier of 2.80, offering investors a compelling opportunity to acquire the asset at a conservative valuation with significant upside potential.
INVSTMENT OVERVIEW
As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Baymont by Wyndham Peoria (“Hotel” or “Property”) located in Peoria, Illinois. The Wyndham Hotels & Resorts-branded Hotel is offered at $4,100,000 million or $34,454 per key.
The Baymont by Wyndham Peoria is a three-story hotel with 119 rooms, located at 2002 W. War Memorial Drive in Peoria, Illinois, directly adjacent to Northwoods Mall and positioned off Interstate 74, providing exceptional accessibility and visibility to travelers. The property offers a comprehensive suite of amenities including a seasonal outdoor pool, barbeque grills, fitness center, business center, on-site guest laundry, and bus/truck/RV parking.
Significant recent capital improvements have been completed, enhancing the property’s competitive positioning in the market. In 2023, a complete guestroom renovation totaling over $650,000 was executed, including new paint, luxury vinyl tile (LVT) flooring, upgraded furniture, lighting, window treatments, artwork, reglazed bathtubs, and new siding ($70,000 investment), with all first-floor siding replaced. Additionally, a new parking lot was completed in 2022 at a cost of $100,000, ensuring well-maintained, guest-friendly exterior conditions.
The trailing twelve months, the hotel experienced a notable 4.8 percent increase in room revenue. This trend presents several advantages for potential buyers, including additional capital for renovations and enhanced cash flow. The hotel is attractively priced at a Room Revenue Multiplier of 2.80, offering investors a compelling opportunity to acquire the asset at a conservative valuation with significant upside potential.
The property is also located 8.8 miles from General Wayne A. Downing Peoria International Airport and within minutes of key demand generators, including Bradley University (4.0 miles), Illinois Central College and Midstate College (4 miles), as well as major attractions such as The Doug Oberhelman Caterpillar Visitors Center (5.8 miles), the Peoria Riverfront Museum (5.9 miles), and the Illinois River Road National Scenic Byway, which offers outdoor recreational opportunities including hunting, fishing, hiking, and biking. In addition, a new casino development is planned for Peoria, with construction expected to begin in 2026, providing a future boost to local tourism and hospitality demand.
Peoria, Illinois, is a dynamic and diversified economy that serves as a major hub for Central Illinois. The region benefits from the presence of Caterpillar Inc., a global leader in construction and mining equipment manufacturing, along with top-tier healthcare providers such as OSF Healthcare and UnityPoint Health, and educational institutions like Bradley University. These demand drivers create a strong and consistent base of business and extended-stay travelers.
Tourism and leisure travel are further supported by Peoria’s cultural and recreational attractions, including the Peoria Civic Center, Peoria Zoo, Riverfront Museum, and seasonal festivals. With the upcoming casino development and ongoing infrastructure and economic development initiatives, Peoria’s hospitality sector is well-positioned for long-term growth.
BROKER OF RECORD
Steven Weinstock
Illinois
Lic #: 471.011175
