- Four-Story, 88-Room, Upper-Midscale, IHG-Branded Hotel Built in 2012
- Highly Visible and Accessible from Highway 2, the Busiest Thoroughfare by Vehicles Per Day in Williston
- Situated Near Multiple Oil and Gas Companies, Presenting an Opportunity to Further Occupancy Percentages through Contractual Business
- Ability to Capitalize on All Air Travel in the Area through the Nearby Sloulin Field International Airport and Williston Basin International Airport
- Significant RevPAR Penetration Index of 151 Percent Through the Trailing Twelve-Month Period Ending August 2021
- Net Operating Income over $1.07 Million or 38.1 Percent of Gross Revenues in 2019
Highly Visible with Easy Accessibility: The Property is readily accessible via Highway 2 near the heart of downtown Williston.
Building Attributes: The four-story Holiday Inn Express & Suites opened in 2012 and maintains 88 rooms, as well as an indoor pool, fitness center, on-site guest laundry facilities, business center, and a meeting room.
Local Demand Generators: Business demand in the area is created by oil and gas companies such as Dresser Oil Tools (1.3 miles), Oilfield Safety Incorporated (0.6 miles), Northern Tubing Testing Incorporated (2.6 miles), and ONEOK Energy (6.3 miles), for example. Leisure generators include the downtown shopping district (2.6 miles), Missouri River (13.1 miles), and Williston State College (2.3 miles).
Williston Square: Next door to the Hotel is the 800-acre Williston Square Development which will feature a brand new Sanford Health hospital and multi-specialty clinic, a three-rink hockey facility, retail, diverse dining option, new residential homes, and apartment buildings.
Market Penetration: The limited-service Hotel recorded a RevPAR penetration premium of 51 percent through the trailing twelve-month period ending August 2021, providing insight that the Hotel is expected to continue to outperform the submarket and continue increasing market penetration.
Operational Success: In 2019, the Hotel achieved room revenues over $2.79M and maintained a net operating income over $1.07M or 38.1 percent of total revenues, after a 4 percent capital replacement reserve and 3 percent management fee reserve.
InterContinental Hotels Group-Branded Asset: The Property can maintain brand affiliation with InterContinental Hotels Group (IHG) and currently benefits from the IHG Rewards loyalty program, known for its strong brand recognition amongst travelers, owners, and franchisees.
Conversion Opportunity: This offering provides an investor the ability to implement a franchise conversion to better reposition the asset amongst competitors. For more information, please contact listing agent.
Broker of Record
Jon Ruzicka
License: ND 10032
