Investment Summary
Absentee Owner - Great Opportunity for Owner-Operator: The current absentee ownership presents a great opportunity for a hands-on owner-operator to maximize the property's potential.
Brand Conversion Opportunity: The franchise renews in November, providing an option to unflag the property before the renewal, allowing flexibility in brand management.
Property Features
Modern Amenities: The Best Western Plus offers well-appointed rooms, an indoor pool, fitness center, business center, meeting room, and complimentary breakfast. These amenities cater to the needs of modern travelers, ensuring high guest satisfaction and repeat business. The property has undergone recent renovations, including updates to the breakfast room, guest rooms, lighting FF&E, carpet, and drapes, maintaining its competitive edge in the market and supporting premium pricing strategies.
Financial Performance
Revenue Growth Potential: With the recent airport expansion and ongoing local developments, the hotel is positioned to capture increasing demand. Implementing dynamic pricing strategies and targeted marketing campaigns can further enhance revenue per available room (RevPAR). The property has demonstrated strong revenue performance, providing a stable investment opportunity.
Robust Market Demand
Economic Drivers: Kansas City is home to several key demand generators. Major employers include Garmin Ltd., with around 19,000 employees, and the University of Kansas Health System, employing over 15,000 people. Other significant employers are Burns & McDonnell, Hallmark, H&R Block, and Dairy Farmers of America, all contributing to a strong local economy.
Tourism and Events: Kansas City hosts numerous conventions, sporting events, and cultural festivals, drawing significant tourist traffic. The new terminal at MCI is expected to increase passenger traffic substantially, boosting local hotel demand.
Prime Location
Proximity to MCI Airport: Located only five minutes away from the newly opened $1.5 billion single terminal at Kansas City International Airport, the hotel benefits from enhanced passenger experience and airport operations. The new terminal supports over 39 gates, with future expansion capacity up to 50 gates. It features modern amenities, including advanced security checkpoints, spacious gate areas, and a variety of dining and retail options, attracting a high volume of both domestic and international travelers. In 2023, the airport served 11.5 million passengers, reflecting a 17.7% increase from the previous year. This consistent growth underscores the airport's significant role in the region's transportation infrastructure?
Accessibility: Situated just off major highways, the hotel provides easy access to downtown Kansas City and surrounding business hubs, making it a convenient choice for both business and leisure travelers.
