2000 W Iris Dr SE
Conyers, GA 30013
WoodSpring Suites Atlanta Conyers · Hospitality Property For Sale · 46,536 SF

Brand New Construction. Turn Key Delivery 123 Rooms to be completed 15th November 2018 Occupancy Projection: Using projections for the subject's demand by segment and considering overall market supply and demand forecasts, the proposed subject' s Year 1 occupancy rate is projected to be 79.1% at a penetration rate of 120%. In Year 2, the proposed subject's occupancy and penetration rates are forecast to increase to a stabilized level of 86.0% and 125%, respectively. Revenue Projection: The competitive set offered estimated average daily rates in the previous 12 months that ranged from a low of $35.00 to a high of $75.00, and averaged $46.41 per occupied room night. NOI Projection: Total revenue and expenses for Year 1 are projected at $1,460,884 and $858,375, respectively. Conyers is experiencing a period of moderate economic expansion whereby several film and television production companies like Warner Brothers' Bonanza Productions and Twentieth Century Fox all located permanent production facilities calling Rockdale County and the City of Conyers home. These production companies alone lease more than 300,000 sf of office space and sound stages per month and contract with over 75 local businesses for goods and services. They employ over 300 people, with about 20 percent of their full-time employees coming from Rockdale County. The metro area is supported by a number of employers currently relocating their operations to the city/county to take advantage of the significant tax incentives and thus providing a solid foundation for the local economy. Immediately east and abutting the city's downtown core is the Georgia International Horse Park. The park's 1,400 acres can accommodate other entertainment and special event venues such as concerts and outdoor festivals, providing both employment and revenue to the City of Conyers.