 |
|
|
|
|
Saturday, May 19, 2012
|
|
|
|
|
|
|
Property Name: |
Holiday Inn |
| Units: |
142 |
| State: |
VA |
| List Price: |
$5,995,000 |
| |
Price Reduction |
| |
|
| |
|
| |
|
| Physical Features |
1. Outdoor pool
2. Exercise facility
3. +/- 1.03 acres of leased land
4. Full service restaurant & lounge
5. +/- 5,000 sq. feet of meeting space
6. Large spacious lobby
|
| Investment Considerations |
1. Located just off I-95 and I-64
2. Absentee “out of state” ownership
3. Excellent physical plant with substantial renovations
4. AAA (3) Diamond Rating
5. Excellent franchise affiliation with anticipated long term franchise agreement
6. Discount to replacement cost
7. Priced at $49,261 per unit
|
| Property Overview |
| This 142-unit interior corridor Holiday Inn is well located just off two major Interstates in Virginia, and is within close proximity to a vast array of area demand generators. The facility, which underwent a complete renovation in 2008/2009, is an eight-story building consisting of 142 interior corridor guest rooms. There is also a large spacious lobby, full service restaurant and lounge, (5) meeting facilities, business center, exercise room, guest laundry, and an outdoor swimming pool, all of which is situated on +/- 1.03 acres of leased land with excellent Interstate and roadside visibility. |
|
| Financials |
|
2008 |
2009 |
2010 |
|
| Room Revenue |
$2,198,203 |
$2,017,259 |
$1,712,961 |
|
| Occupancy |
55.88% |
52.91% |
48.67% |
|
| Average Daily Rate |
$75.69 |
$73.57 |
$67.91 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|