- 370-Room Full-Service Hotel
- Newly Renovated Rooms in the Four-Story Tower (185 Rooms)
- Many Capital Improvements Completed (Inquire with Agent)
- 55,000 Square Feet of Open Meeting Space
- Gross Revenues of Over $4.2 Million
- Located less than 40 Minutes from Springfield (Capital of Illinois), 50 Minutes from Champaign (University of Illinois), and Three Hours from Chicago
- Less than Eight Miles Away from Decatur Airport
- Sits on Over 26 Acres with a Catch and Release Pond, Outdoor Pavilion, Sand Volleyball & Basketball Court
Marcus & Millichap’s National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the Decatur Conference Center & Hotel. The hotel is priced at $7,495,000 or $20,256 price per room; this represents a 3.12 times multiple on year-end 2018 room revenues. An opportunistic property, constructed in 1972, is located along the Highway 36 corridor which provides great visibility for transient business.
This four-story, 370-room hotel presents a new owner the opportunity to acquire an opportunistic hospitality asset at a price below replacement cost. The conference center is split into a Four-Story & Two-Story Corridors with each corridor containing 185 guestrooms. The Two-Story tower is typically utilized during the sellout events at the conference center.
This investment opportunity has substantial upside through a detailed approach to expense management and an increase in marketing, potentially fueling upward RevPAR growth. The hotel is well-equipped with an indoor pool, two on-site restaurants, bar, and 55,000 square feet of rentable conference space.
Operationally, this hotel is bringing in $4,254,607 in gross revenue. Decatur Conference Center & Hotel sits on 26 acres of land giving added value to this investment opportunity.
The expenses include provisions for a 3 percent management fee and 4 percent reserves for capital replacement. The hotel is offered fee simple, unencumbered by management and debt.
The Decatur Hotel & Conference Center is a 370-room, four-story, hotel and conference center built in 1972. Well-equipped with numerous common area and guest room amenities, this hotel offers spacious guest rooms that come furnished with room service, a plush top mattress, stylish bathroom with granite countertops, an over-sized desk, a microwave, refrigerator, and flat-screen television with premium channels. Additionally, some common area amenities the hotel has to offer consist of two restaurants, the Fireside Grill and the Sports Zone Bar and Grill, an indoor pool and Jacuzzi, fitness center, business center, sand volleyball, basketball, horseshoes, disc golf, and over 55,000 square feet of conference and event space between two areas.
Decatur, Illinois is a city located in Macon County in the central region of the state, 50 miles east of Springfield and 50 miles west of Campaign. The Decatur Conference Center & Hotel is superbly positioned on Highway 36. With the city’s major employers and popular revenue generators in close proximity to the property, this sought-after hotel benefits from many key industries of the city which include healthcare & social assistance, manufacturing, and retail trade. Mueller Group LLC and Decatur Memorial Hospital, two of the city’s largest employers located approximately 3.8 and 5.6 miles from the hotel respectively, are prime revenue drivers for the surrounding area. Other major employers that are responsible for a significant portion of the workforce include ADM Growmark River Systems Research Center (7.7 miles) and Archer Daniels Midland Company (7.9 miles). Revenue generators in the area, like Scovill Zoo (7.9 miles) and the Decatur Airport (8.8 miles) help bring additional revenue to the hotel through an increase in transient business. Extra demand drivers for the city include Fairview Shopping Center (3.7 miles) and the Macon County Fair & Event Facilities (5.2 miles).