- Three-Story, 62-Room, Upper-Midscale Hotel
- Ideal Location with the Interstate 30/Loop 820 Corridor
- Highly Visible and Easy Access to Major Highways and Thoroughfares
- Prominent Demand Generators Including Texas Christian University, Naval Air Station Fort Worth, Fort Worth Convention Center, Fort Worth Zoo, Six Flags Over Texas, AT&T Stadium, and Globe Life Field
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 Country Inn & Suites Fort Worth (‘Hotel’ or ‘Property’). The Radisson Hotels-branded Hotel is offered at $5,600,000 or $90,323 per key.
The Country Inn & Suites is a 62-room, three-story, interior corridor Hotel built in 1998. The Hotel is well-equipped with numerous common area and guest room amenities. This limited-service upper-midscale Hotel offers spacious guest rooms that come furnished 32-inch flat-screen television, microwave, and refrigerator. There are also several common area amenities, such as an outdoor pool, business center, and fitness center.
Fort Worth, Texas, is in the northern part of the state and in Tarrant County. The Country Inn & Suites Fort Worth is positioned on 2730 Cherry Lane and in the Interstate 30/ Loop 820 corridor. There are several room demand generators that are in close proximity and diverse in the market. Texas Christian University (7.5 miles) has an enrollment of over 10,000 undergraduates and graduate students and has an annual budget of $702.3 million. Aviation is an additional industry segment in the region and the Naval Air Station Fort Worth Joint Reserve Base (3.6 miles) is made up of approximately 40 separate commands with 10,000 active-duty militaries, Guardsmen, Reservists, and civilian employees. In addition, special events, weddings, and corporate events are hosted at the Fort Worth Convention Center (8.1 miles) and offer over 253,226 square feet of total space for exhibits with additional flexible space to cater to their diverse clientele. Leisure travelers have direct access to the Fort Worth Zoo (6.6 miles) and Six Flags Over Texas (23.0 miles), AT&T Stadium (22.3 miles), and Globe Life Field (22.9 miles). The DFW Airport (34.7 miles) was granted the 2019 Global Airport of the Year by Air Transport World and recently completed $2 billion in renovations and renewal of three legacy terminals. Travelers may access the Dallas Love Field Airport (42.7 miles) which serves over seven million passengers a year.
In 2021, the Hotel recorded room revenues of over $1 million, and maintained a healthy net operating income of $375 thousand or 35 percent of total revenues, after a 4 percent capital replacement reserve and 3 percent management fee. An opportunity exists for a new owner to increase RevPAR to surpass the current STR-defined competitive set RevPAR through operational initiatives and aggressive revenue management strategies.
