- 72-Room, Midscale Hotel Built in 2009
- Priced Below Replace Cost at $76,389 Per Key
- Located Within the San Antonio – New Braunfels MSA
- Halfway Point Between San Antonio and Austin – #3 and #4 Largest MSAs in Texas
- New Braunfels MSA Major Demand Drivers – Schlitterbahn Waterpark, Natural Bridge Caverns, and Central Texas Medical Center
- New Braunfels is One of the Top 10 Fastest-Growing Cities in the Country - Spawning Future Development and Infrastructure Projects
- Absentee Ownership - Presenting Opportunity for Owner-Operators to Decrease Expenses & Increase Net Operating Income
Investment Overview:
As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Wingate New Braunfels (‘Hotel’ or ‘Property’). The Wyndham-branded Hotel is offered at $5,500,000 or $76,389 per key.
The Wingate New Braunfels is a 72-room, four-story Hotel stationed at 245 FM 306, with visibility and direct access to Interstate 35. This Hotel features an indoor pool and whirlpool, 625 square feet of meeting space, laundry facilities, a business center, and a fitness center. The Hotel is comprised of 42 rooms with double queen size beds, 27 rooms with king size beds, 2 handicap rooms with king size beds, and 3 suites with kitchenettes. All rooms and suites offer a flat-screen television, a work desk, microwave, mini-fridge, and iron/ironing board.
New Braunfels, Texas is located in the south-central part of the state and positioned 49 miles south of Austin and 31 miles north of San Antonio city centers. The city encompasses diversified industries which include tourism, financial institutions, and technology companies. Recently, PNC Bank completed development in New Braunfels for a new operations center in a 60,000 square-foot office space in the Parkview Plaza. In October 2019, Continental Structural Plastics broke ground on their 2,000 square-foot $65 million plastics manufacturing facility in the region. TaskUs also invested in a 41,000 square-foot lease to house its call center who provide a plethora of business services to digital brands such as Tinder, Wish, Hootsuite, Hotels Tonight, and Sparefoot. The Wingate New Braunfels is near Schlitterbahn Waterpark (4.1 miles), which was named the Best Waterpark in the World at the 2019 Amusement Today's Golden Ticket Awards ceremony. Other room demand generators include the Natural Bridge Caverns (18.8 miles), Central Texas Medical Center (4.0 miles), and Wildlife Ranch (18.4 miles). The New Braunfels Regional Airport (4.8 miles) is nearby for travelers and handles over nine million passengers annually.
The Property achieved over $1.429 million in room revenues through 2021, representing a 66.7 percent increase from year-end 2020. Though struggling year-to-date in competitive RevPAR, the Hotel offers further opportunity for rate escalation from a new owner through better revenue management strategies. Additionally, a deeper look at departmental expenses will show current inefficiencies in operations with upside available to see an increase in operating income.
