Best Western Plus Owensboro 1018 Goetz Dr 63 Room Hotel Owensboro, KY 42301 $9,500,000 ($150,794/Room)

NVESTMENT HIGHLIGHTS
Heightened Room Revenue: Between year-end 2024 and the twelve months ending in October 2025, the hotel experienced a notable 20 percent increase in room
revenue. This trend presents several advantages for potential buyers, including additional capital for renovations and enhanced cash flow.
Value-Add Upside: $275K in planned 2025 capital improvements, including a new metal roof and LED mirror upgrades, will enhance guest experience and long-
term asset durability.
Diverse Demand Drivers: Positioned near convention venues, a revitalized riverfront, healthcare, higher education, and manufacturing hubs—supporting broad
base lodging demand.
Booming Local Economy: Major developments underway, including a $232M Swedish Match expansion and $100M Churchill Downs facility, point to rising
corporate and transient demand.
Entertainment-Focused Growth: Future openings of Malibu Jack’s, Club One, and the Kentucky Sound Stage bolster year-round leisure, group, and family demand.
Prime Retail & Dining Access: Located near national restaurants and walkable retail, with major new retail anchors opening by 2026, including Publix and Gateway
Commons.
Institutional & Cultural Demand: Nearby colleges, Owensboro Health, and regional attractions like ROMP Festival and the Bluegrass Museum drive recurring
weekday and weekend occupancy.
Elevated RevPAR Penetration: The hotel boasts a strong RevPAR penetration index of 167 percent for the twelve months ending in October 2025, signaling robust
competitive performance and attractive long-term value for potential buyers.
INVESTMENT OVERVIEW
As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Best Western Plus
Owensboro (‘Hotel’ or ‘Property’) located in Owensboro, Kentucky. The Best Western Plus-affiliated Hotel is offered at $9,500,000 or $150,794 per key.
The Best Western Plus Owensboro is a three-story hotel with 63 rooms, located at 1018 Goetz Drive in Owensboro, Kentucky. The Hotel is located off Bypass 60 and
maintains various common area amenities include a heated indoor pool, convenience store/sundry, meeting room, breakfast area, fitness center, business center, and
coin laundry facility. The hotel has been recognized with multiple accolades, including the MK Guertin Award (2025), Champion Award for RevPAR (2025), Quality
Assurance Award (2025), and the Chairman's Award for ranking in the Top 20% for Quality Assurance (2024).
The property is positioned for strategic capital improvements planned for 2025, including a new standing seam metal roof and LED mirror upgrades, with total
investment expected to be in the range of $275,000. These enhancements will strengthen long-term durability, improve guest experience, and support overall property
value.
Between year-end 2024 and the twelve months ending in May 2025, the hotel experienced a notable 16.44 percent increase in room revenue. This trend presents several
advantages for potential buyers, including additional capital for renovations and enhanced cash flow. The hotel boasts a strong RevPAR penetration index of 159 percent
for the twelve months ending in May 2025, signaling robust competitive performance and attractive long-term value for potential buyers.
Owensboro, Kentucky anchors the Owensboro, KY Metropolitan Statistical Area, home to more than 113,000 residents and a diverse economic base. The city benefits
from a central location along the Ohio River with highway and rail connectivity, a revitalized riverfront, and convention infrastructure including the 102,000-square-foot
Owensboro Convention Center (4.0 miles) and the 1,479-seat RiverPark Center (3.9 miles). These assets, combined with healthcare, higher education, manufacturing,
and cultural tourism, make the market a well-rounded lodging destination.
The hotel is ideally located on high-traffic Frederica Street, surrounded by national restaurants and daily-use retail within walking distance, including Texas Roadhouse,
Chili’s, Panera Bread, Chick-fil-A, McDonald’s, and several coffee franchises such as Dutch Bros Coffee, 7Brew, and Scooter’s Coffee. Churchill Downs’ $100 million
Owensboro Racing & Gaming (10.4 miles) facility opened in 2025, and the Kentucky Sound Stage (1.2 miles), a state-of-the-art film and television production complex
further enhances regional entertainment appeal.
Future developments poised to expand demand drivers include Malibu Jack’s, a 109,000-square-foot indoor entertainment facility at Town Square Mall, and Club One, a
90,000-square-foot gym and family entertainment complex, both less than a mile from the hotel and not yet open. A new Publix, Boot Barn, Buckle, Old Navy, Carter’s,
Sierra Trading Post, and HomeGoods are scheduled to open six miles away by late 2025 and into 2026, anchored by the Kroger Marketplace at Gateway Commons. A
90,000-square-foot indoor sports complex less than four miles from the hotel is slated to open in 2026, expected to attract regional tournaments and group demand.
Nearby industrial growth includes the City of Owensboro’s 121-acre land development for future industrial users (3.5 miles away), Swedish Match’s (5.6 miles) $232
million expansion (2025), UniFirst’s (2.6 miles) $28 million expansion (2026), RL Carriers’ $25 million warehouse investment and Mizkan America’s (5.0 miles) $156
million expansion (2025). Collectively, these projects are expected to stimulate both corporate and transient lodging demand in the years ahead.