- 91-Room, Upper Midscale Limited Service
- Buyer to Complete Formula Blue PIP
- 10 Year Franchise Term Available for New Buyer
- Easy Access to Interstate 20 and Chisolm Trail Parkway
- Located Close to Major Leisure and Business Demand Generators
- Situated in the Highly Sought-After Dallas/Fort Worth Metroplex
- Guest Rooms, Fitness Equipment and Public Spaces Renovated in 2016
Investment Overview:
The Holiday Inn Express & Suites Fort Worth is offered for sale on a Request for Offers basis. The subject hotel generated a gross revenue of approximately $2.6M and a net operating income of about $915K according to the year-end 2018 financials.
The expenses include provisions for a 3 percent management fee and 4 percent reserves for capital replacement.
The hotel is offered unencumbered by management and debt.
New investor is anticipated to complete the Formula Blue PIP in guest rooms and suites, and also update the lobby as per Formula Blue specifications. Contact Agent for a copy of the PIP and more details on same.
The subject hotel is currently underperforming its immediate comp-set properties such as the Hampton Inn & Suites, Courtyard by Marriott, and Hyatt Place. New ownership has an opportunity to take advantage of the strong market in Fort Worth, implement better revenue management techniques, and improve, RevPAR; going forward, post-completion of PIP.
Property Overview:
The Green Engage Holiday Inn Express & Suites Fort Worth is a 91-room, interior corridor, upper midscale limited service hotel located in South Fort Worth, Texas. Built in 1998, this four-story hotel is constructed using concrete slab and pier foundation, and boasts modern finishes and amenities. Hotel amenities include an on-site meeting room, high-speed internet, wireless internet access, business center, fitness center, an outdoor pool, and an on-site self-laundry facility. The hotel features 65 rooms and 29 guest suites including six accessible rooms, which were last renovated in 2016 in conjunction with the public spaces. Each room includes a mini refrigerator, coffee maker, tea maker, work desk with lamp, and connecting suites are available.
Location Overview:
The Dallas/Fort Worth region, home to over 6.6 million people, is located in North Central Texas. Fort Worth is the second largest city in the Metroplex, located just west of Dallas. The Holiday Inn Express & Suites Fort Worth is positioned with easy access to Interstate 20 and Chisolm Trail Parkway. Some of the major corporate neighbors include Lockheed Martin (7.5 Miles), Naval Air Station Joint Reserve Base (6.6 miles), and the MillerCoors Brewery (7.9 miles). The Alliance Texas Global Logics Hub, Alliance Town Center (20.9 Miles) is a 900-acre major retail center surrounded by 2 million square feet of Class A offices which include AT&T, Bell Helicopter, DynCorp International, Equify Financial, the Federal Aviation Administration, Fidelity Investments, Mercedes Benz Financial, and many other corporate residents. Some of the local attractions include the Historic Stockyards (11.6 miles), Billy Bob’s Texas (10.6 miles), Texas Motor Speedway (30 miles), Fort Worth Zoo (7.7 miles) and the Fort Worth Botanical Gardens (6.3 miles). Also, Texas Christian University (4.7 miles) hosts a multitude of student events such as sporting, graduations, and fine arts performances year-round. The Holiday Inn Express & Suites Fort Worth is located in close proximity to the Fort Worth Meacham International Airport (13.7 miles), Alliance Airport (26 miles), and DFW International Airport (37.3 miles).
