- 70-Room, Interior Corridor Hotel Renovated in 2019
- Proven to be a Strong Performer Amidst the Covid-19 Pandemic
- Hotel to be Delivered with Latest Best Western Design Scheme – Should Qualify for Best Western’s Auto-Transfer
- Located Within 30 Minutes From Albuquerque off Interstate Highway 40 & Route 66
- Recipient of 2019 Trip Advisor Certificate of Excellence Award
- Operational Upside for Prospective Hands-On Owner-Operator Investor
Marcus & Millichap’s National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the Best Western Moriarty Heritage Inn. The Best Western-branded hotel is priced at $4,495,000 or $64,214 price per room; this represents a 3.18 times multiple on October 2020 trailing 12-month room revenues and has proven to be a stable performer throughout the Covid-19 Pandemic. The property is in the Albuquerque, New Mexico MSA, the largest city in New Mexico. The hotel will be delivered with the latest Best Western design scheme, and a minimal Property Improvement Plan is expected for a new buyer. It is anticipated that it will qualify for Best Western’s Auto Transfer.
This two-story, 70-room hotel presents a new owner the opportunity to acquire a value-add hospitality asset at a price below replacement cost. An investor can maximize profits through a reduction in management costs for the property. The hotel is well-equipped with an indoor pool, spa, fitness center, and business center.
Operationally, the hotel has achieved $1,413,112 in October 2020 Trailing-12 month room revenues, resulting in a net operating income of approximately 18.2 percent of total revenue, a number that can be significantly improved upon by a hands-on owner-operator. This hotel has consistently proven a market share dominance exceeding 124% RevPAR index from 2017-2019; trailing 12-month September 2020 RevPAR index at 133%. Focusing on increasing the hotel's operational efficiency through a more detailed expense management approach, a new owner can see a significant boost in hotel performance, seizing a larger portion of top-line revenues. The property has an extensive history of strong revenue performance and had a heavily increasing revenue trend in 2019.
The expenses include provisions for a four percent reserve for capital replacement. The hotel is offered fee simple, unencumbered by a management contract and debt.
The Best Western Moriarty Heritage Inn is a 70-room, two-story, midscale, interior corridor hotel. The property boasts many common area and guest room amenities. Common area amenities include an indoor pool and spa, fitness center, business center, conference space, meeting rooms, a safe-deposit box, and complimentary community-wide internet. The guest room amenities consist of a microwave, refrigerator, work desk, and a flat-screen TV with cable. This hotel boasts great reviews and is a recipient of the 2019 Trip Advisor Certificate of Excellence Award.
The Best Western Hotels & Resorts global powerhouse greets over 400,000 hotel guests worldwide every night. There are approximately 4,700 hotels in over 100 countries and territories around the world. The brand continues to receive peer award recognitions and has received the AAA/CAA Lodging Partner of the Year for over a decade. Business Travel News named Best Western Plus and Best Western number one in upper-mid-price and mid-price hotel brands consecutively in recent years.
Moriarty, New Mexico is a city located in Torrance County, 30 minutes east of Albuquerque and is a part of the Albuquerque Metropolitan Statistical Area. The Best Western Moriarty Heritage Inn is positioned off Anaya Boulevard, between Interstate 40 and Route 66 near many demand generators. A few popular revenue generators and attractions consist of the Moriarty Civic Center (0.9 miles), Lewis Antique Auto & Toy Museum (2.1 miles), McCalls Pumpkin Patch (3.6 miles), Moriarty Municipal Airport (4.9 miles), and the Wildlife West Nature Park (9.3 miles).
Broker of Record