- Three-Story, 62-Room, Midscale Hotel Built in 2009 and Renovated in 2020
- Located Just Two Hours Southeast of Dallas, Texas
- Excellent Access and Visibility from Interstate 69
- Operational Upside for Hands-On Owner-Operator Experienced in Revenue Management
- Offered Fee Simple, Unencumbered by a Management Contract and Debt
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 La Quinta Inn & Suites in Jacksonville, Texas ('Hotel' or 'Property'). The Hotel is offered at $5,500,000 or $88,710 per key.
The La Quinta Inn & Suites Jacksonville is a 62-room, three-story, interior corridor Hotel built in 2009 and renovated in 2020. The Hotel boasts a wide range of common area and guest room amenities. Common area amenities include an indoor pool, fitness center, business center, meeting room, lobby, breakfast area, laundry facility, and convenience store. The guest room-specific amenities include a microwave, refrigerator, flat screen television with premium cable channels, and an ergonomic work desk. Select two-room suites include a single king bed, living room, full kitchen, and a sofa bed.
Jacksonville, Texas is a city located in Cherokee County, about 110 miles southwest of Shreveport, LA and 115 miles southeast of Dallas, Texas. The Hotel is positioned right off Interstate 69 near many of the city’s top employers including CHRISTUS Mother Frances Hospital just down the highway (0.4 miles), Cardinal Health (2.8 miles), Walmart Supercenter (2.3 miles), Stream Global (3.6 miles), and Stage Stores Distribution Center (5.1 miles). Recently the Jacksonville Economic Development Corporation announced the expansion of Zyklus Heat Transfer which will construct a 300,000-plus-square-foot manufacturing facility in the Norman Industrial Park (2.2 miles). The industrial park is 140 acres and is home to local and global businesses which include Builder’s Best, Modine, JH Lighting, and Blue Goose Customs and Fabrication. The property is also located near many of the city’s entertainment and revenue generators including Bolton Park (2.9 miles) and Tomato Bowl Stadium (3.5 miles) Also, a short distance from the hotel are popular amusement activities like Adrenaline Rush Zip Line (6.6 miles) and Cherokee Trace Drive Thru Safari (15 miles).
Through twelve-month July 2022, the limited-service Hotel recorded over $1.4 million of room revenue, coupled with a $62.10 RevPAR, 68 Percent Occupancy, and $91.37 Daily Rates. An excellent value-add opportunity, the Hotel ranks fourth out of five in the STR-defined competitive set with an 84.2 percent RevPAR penetration index through the twelve-month June 2022 period. A prospective buyer can capitalize on the low performance and increase revenues through the implementation of revenue management strategies.
