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- Hampton Inn – 3 Stories, 76 Rooms, Built in 2003
- Holiday Inn Express – 3 Stories, 96 Rooms, Built in 2005
- Excellent Location off I-70 and I-435 near Kansas City’s Best Entertainment Venues
- Located within the Kansas City MSA – Population of more than 2.3 Million as of the 2010 Census
- Outperforming STR-Defined Competitive Set
- Offered Fee Simple, Unencumbered by a Management Contract or Debt
- Combined, the Hotels Generated over $5 Million in Total Revenue during 2019
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 Hampton Inn Kansas City Village West and the Holiday Inn Express Kansas City at the Legends (‘Hotels’ or ‘Portfolio’). The Portfolio is offered on a call for offers basis – contact agent for pricing guidelines.
The Hotels are located within the Kansas City Metropolitan Statistical Area (MSA), the largest MSA in Kansas. As of the 2010 Census, the Kansas City MSA has an estimated population of over 2.3 million, which has led to a strong hospitality market for tourism, conventions, and business travel. Millions of conventioneers visit Kansas Cities Bartle Hall (15.1 miles away), which hosts a variety of events each year. Kansas City is home to several fortune 500 companies that bring increased corporate demand to the area; companies such as Sprint Nextel, Seaboard, and YRC Worldwide are all located within city limits.
Kansas Speedway, a 1.5-mile tri-oval racetrack host two annual NASCAR race weekends that generate more than $234 million annually. With a seating capacity of 83,600, the racetrack provides over 4,000 jobs coming directly from track operations. In February 2012, the Kansas Speedway expanded operations and built a $380 million casino at the track, estimated to attract 440,000 tourists per year. Additionally, the Bannister Federal Complex is currently being developed into a 2.6 million square foot industrial space and the American Royal Association, the host of the World Series of Barbecue, plans to build a state-of-the-art agriculture showcase that will occupy about 112 acres northwest of the Kansas Speedway.
The Hotels are positioned in Village West business and entertainment district, the states number one tourist attraction, off I-70 and I-435, which record over 110,900 cars per day combined: allowing for easy access to the local demand generators such as the Kansas Speedway, Hollywood Casino, Children’s Mercy Park Sports Center, the Legends Outlets, and Downtown Kansas.
The Hampton Inn consists of 76 rooms, and the Hotel has consistently outperformed the STR-defined competitive set, posting a RevPAR penetration index averaging over 108 percent for the last three years. Additionally, the Hampton Inn recorded room revenues of around $2.265 million in 2019. The Holiday Inn Express consists of 96 rooms, each room achieving approximately $28,600 in revenues, totaling just over $2.7 million in 2019.
The Holiday Inn Express has steadily performed in line with its STR-defined market competitive set and posted an average RevPAR penetration index of 102 percent. Combined, the Hotels generated over $5 million in total revenue during 2019.
Current expenses include provisions for a 4 percent capital replacement reserve and a 3 percent management fee. The Hotels are offered fee simple, unencumbered by a management contract or debt.
Property Overviews:
Hampton Inn
The Hampton Inn Kansas City at The Legends is a Hilton Worldwide Holdings Inc.-branded hotel with 76 rooms spread throughout three stories. Each guestroom features a flat-screen television, desk with ergonomic chair, seating area, refrigerator, and microwave. The common areas include a breakfast area, a business center, an indoor swimming pool, and a fitness center.
Holiday Inn Express
The Holiday Inn Express Kansas City at The Legends is an InterContinental Hotels Group-branded hotel with 96 rooms spread throughout three stories. Each guestroom features a flat-screen television, desk with ergonomic chair, seating area, refrigerator, microwave and a kitchenette in select suites. The common areas include a breakfast area, business center, indoor swimming pool, indoor hot tub, and fitness center.
Location Overview:
Kansas City, Kansas is located in the northeast corner of the state and neighbors Kansas City, Missouri which positions the metropolitan statistical area as the 29th largest in the United States. The Holiday Inn Express Kansas City at The Legends is located on 1931 Prairie Crossing Street, and the Hampton Inn Kansas City Village West is located on 1400 Village West Parkway. Both properties are near the region’s top demand generators which include gaming, professional sports, manufacturing, government, and logistics.
The Kansas Speedway (1.3 miles) and the Hollywood Casino at Kansas Speedway (2.5 miles) are popular venues for leisure and business travelers. The Kansas Speedway was named in 2017 the Best Banquet Facility by the Kansas City Business Journal and hosts over 200 events per year, in addition to two NASCAR weekends. The Hollywood Casino offers gaming, dining, and entertainment year-round to its patrons.
The General Motors Fairfax Assembly Plant (16 miles) manufactures the Chevrolet Malibu and the Cadillac XT4, which was the first industrial facility to operate as a dual-purpose manufacturer. The award-winning facility has been recognized on several occasions, including being awarded the North American Car of the Year for the Chevrolet Malibu. The North Central Regional Office for the Federal Bureau of Prisons (13.6 miles) is responsible for the public safety of the nation and the entire agency encompasses over 38,000 employees. In addition, the Associated Wholesale Grocers (9.2 miles) is the nation’s largest cooperative food wholesaler that distributes to independently owned supermarkets with consolidated sales of approximately $9.7 billion.
Education also has a significant footprint in the region, and the University of Kansas Health System (15.5 miles) encompasses the University of Kansas Medical Center, which includes schools of medicine and nursing. There are over 20 accredited programs and over 25 research institutes and centers. The institute offers academics, research, patient care, and outreach which combined attract year-round traffic to the region.
Travelers have access to the Kansas City International Airport which is a complex that spans more than 10,000 acres. The airport is equipped to accommodate over 100 aircraft operations each mile. The campus includes various tenants in their inter-modal office park and a super hangar/overhaul base.
Broker of Record
Colby Haugness
License: KS 00241410
