- Three-Story, 65-Room, Wyndham-Branded Hotel Recently Renovated in 2020
- Located within Colorado Springs Metropolitan Statistical Area, the Second Largest Colorado MSA
- 76.4 Miles from Denver International Airport and 17.4 Miles from Colorado Springs Airport
- Excellent Location off Interstate 25 and Academy Boulevard, Near a Variety of Demand Generators
- Close Proximity to the United States Air Force Academy
- Room Revenues over $1.84 Million and Net Operating Income of 34.6 Percent or $636.87 Thousand Through the Year-End of 2021
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 Baymont Inn & Suites in Colorado Springs (‘Hotel’ or ‘Property’). The Wyndham-branded, limited-service Hotel is offered for sale at $6,400,000 or $98,462 per key.
Colorado Springs is located 70 miles south of Denver, Colorado, and is the principal city of the Colorado Springs metropolitan statistical area. Colorado Springs is the second-largest city by population in Colorado and is estimated to grow by 58.6 percent by 2050. The city is home to the United States Air Force Academy, the Historic Broadmoor Hotel, U.S. Olympic Museum, Pike’s Peak, and Garden of the Gods Park. In 2018, Colorado Springs was listed as the most desirable place to live in the United States by U.S. News.
The Property sits on 1.86 acres off the intersection of Interstate 25, a major north-south thoroughfare, and Academy Boulevard. The Hotel’s ideal location allows easy access to many of the city’s business demand generators including Progressive Insurance Corporate Campus (5.5 miles), Lockheed Martin (2.9 miles), Boeing Tech Center (4.2 miles), and Boeing Company (10.3 miles). Tourism in the area can be attributed to popular sites such as the Garden of the Gods (8.9 miles), Pike Peak (20.5 miles), Cheyenne Mountain Zoo (15.6 miles), U.S. Olympic & Paralympic Training Center, and U.S. Olympic Museum (9.1 miles), and the National Museum of World War II Aviation (13.7 miles). The United States Air Force Academy, located 6.4 miles from the Hotel, attracts approximately a million visitors each year and provides substantial room demand for the Property. Additionally, the Hotel benefits from its position near the Denver International Airport (76.4 miles) and Colorado Springs Airport (17.4 miles).
For the year-end of 2021, Hotel recorded a RevPAR of about $78.57, room revenues over $1.86 million, and a net operating income of 38.7 percent of gross income, which translates to $721,206 thousand, after a four percent capital replacement reserve. Compared to the STR-defined competitive set, the Subject Property has performed in line with its competitors reporting a 100 percent and a 102 percent RevPAR penetration index in 2019 and 2020, respectively. Due to the Property's ideal location near multiple tourist destinations, the Hotel has maintained room revenues of over $1.17 million in 2020, despite the market downturn due to Covid-19.
Broker of Record
Adam Lewis
License: CO ER100091205
