Property Attributes: The Holiday Inn Meridian E I-20 / I-59 (‘Hotel’ or ‘Property’) features 121 spacious guestrooms spread throughout five stories. The upper-midscale Hotel was built in 2010 on 2.7 acres in Meridian, Mississippi.
Prime Location: The Property is located, with excellent visibility, at the intersection of Interstate 20 / Interstate 59 (42,000 cars per day) and Highway 39 / Highway 80 (28,000 cars per day). This premium location offers easy access to all nearby demand generators.
Demand Generators: This Hotel enjoys a healthy mix of leisure and corporate business; nearby demand generators include Bonita Lakes Park – 3,300-acre park offering fishing, hiking, and horseback riding (0.8 miles), Mississippi Arts and Entertainment Experience – 50 million dollar museum that highlights Mississippi Artists and Entertainment Enterprisers (2.0 miles), the Riley Center (also known as the Grand Opera House) – a performing arts and conference center that hosts a variety of events each year (2.1 miles), and the Meridian Regional Airport (5.8 miles).
Cash Flowing Asset: In 2019, the Hotel achieved revenues above $3,940,000 coupled with a healthy net operating income of over $1,100,000 or 28 percent of total revenues after a 4 percent replacement reserve and 3 percent management fee.
Excellent Market RevPAR Penetration: Through 2020, the Hotel outperformed the submarket in occupancy resulting in a RevPAR penetration index of 111 percent, and is positioned as a leading Hotel amongst its STR-defined market competitive set.
Unencumbered Offering: The Hotel is offered fee simple, unencumbered by a management contract or debt.
Property Overview:
The 121-room, five-story Holiday Inn Meridian E – I-20 / I-59 is located along Interstate 20 and Interstate 59 near the intersection of Highway 39 and Highway 80. This upper-midscale, hotel features an indoor pool, a bar/lounge, a fitness center, a business center, a sundries shop, 2,400 square feet of meeting space, and guest laundry facilities. Guest rooms offer a flat-screen television, a separate seating living room with a sofa bed, a microwave, a refrigerator, a pillow menu, and a work desk.
Location Overview:
Consisting of two campuses, the College Park Campus, located 5.7 miles from the Property, and the Riley Campus, located two miles from the Hotel, Mississippi State University – Meridian (MSU – Meridian) serves students from 30 Mississippi counties and seven counties in Alabama.
MSU – Meridian offers junior, senior, and graduate-level courses in three academic divisions including Business, Arts and Sciences, and Education. Utilizing the Partnership Pathways with local community colleges, the University helps assist students with a smooth and successful transfer.
Mississippi State University – Meridian hosts over 834 students including more than 250 graduate students. The University offers 14 different undergraduate degrees and four graduate degrees. MSU – Meridian has also committed to having previously completed a technical associate degree through the military or community college and want to earn a bachelor’s degree, or those looking for professional growth.
The entire Mississippi State University System supported 29,016 jobs in 2019, one out of every 55 jobs in Mississippi, and had a $1.8 billion economic impact.
The new, 60,000-square-foot Mississippi Arts + Entertainment Experience (The MAX) facility with $14 million in immersive and interactive exhibitions, opened in 2018. Nearly half of The MAX is devoted to gathering, performing, and creating with two art studios, and a recording studio, as well as numerous indoor and outdoor spaces designed for schools, clubs, professionals, and families to host special programs and events. The MAX is located two miles from the Hotel.
The Naval Air Station Meridian (NAS Meridian) is located approximately 15 miles northeast of Meridian and 19.4 miles from the Property. The 8,000-acre installation includes an additional 4,000 acres at Outlying Field (OFL) Joe Williams Field. With more than 3,350 employees, NAS Meridian has a healthy relationship with the Meridian community organizations such as the Navy League which works to support local military personnel. NAS Meridian supports aviation and technical training by providing timely, quality services and facilities.
The MSU Riley Center is a multifaceted center that attracts 80,000-plus visitors to downtown Meridian each year for conferences, meetings, and performances. The center, located 2.1 miles from the Hotel, includes a fully restored 1889 grand opera theater that seats 950, a 200-seat studio theater, and 30,000 square feet of meeting space, including a large exhibit hall, breakout rooms, and boardrooms.
Broker of Record:
William M. "Mickey" Davis
License: MS B-15586
