- 148-Combined-Room, Interior Corridor, Dual Choice Branded, Hotel & Conference Center
- Priced at 2.89 Times the 2017 Combined Year-End Room Revenues
- Offered at a 10.9% Cap Rate with an Approximate 23.76% Cash-On-Cash Return
- Excellent Location Directly off Interstate-25 with Highly Visible Corner Lot
- Continued Year-Over-Year RevPAR Growth in Colorado Springs
- Ample Banquet and Conference Space that Caters to Regional and National Groups
Investment Overview:
The dual-branded Quality Suites - Clarion Hotel & Conference Center located in Colorado Springs is priced at $8.5 million which is 2.84 times the combined 2017 year-end room revenue. The hotel is priced significantly below replacement cost at $57,432 per key. The June 2018 NOI is $923,890 which gives the hotel a capitalization rate of 10.87 percent based on the $8.5 million list price. A new investor can expect over a 20 percent cash-on-cash return assuming a 20 percent down payment with a loan amortized over 25 years at a six percent interest rate.
The transfer PIP from Choice Hotels is expected to cost a new buyer approximately $1 million or $6,756 per key. Please ask listing agent for more information and a copy of the available PIP.
Property Overview:
The dual-branded Quality Suites and Clarion Hotel & Conference Center is a three-story, 148-room, interior corridor hotel located directly off Interstate-25 on a hard corner at I-25 and Bijou Street in one of the main commercial districts in Colorado Springs, Colorado. Amenities at the hotel include an indoor pool, fitness center, business center, guest laundry facility and ample meeting space. Most guest rooms include high-speed wireless internet, a refrigerator, microwave, individually controlled air conditioning units, and flat-screen televisions. In addition to guestroom amenities, there is also a significant amount of banquet and conference space available for rent.
Location Overview:
The dual-branded Quality Suites and Clarion Hotel & Conference Center is located just off West Bijou St and I-25 in Colorado Springs, CO. The hotel is located near many popular demand generators and employers including the US Air Force Academy, Northrop Grumman, Penrose Hospital, The Garden of the Gods National Park, and the US Olympic Complex. The property is in close proximity to downtown Colorado Springs (0.4 miles), Colorado College (1 mile), Patty Jewett Golf Course (3.2 miles), and the Colorado Springs Airport (11.5 miles).
Broker of Record:
Bob Kaplan
CO ER100052334
