The Comfort Inn in Bluefield, VA. provides an excellent investment opportunity to own a well-performing asset, in excellent condition, with the possibility of a five-year franchise agreement extension, based on buyer qualifications.
The subject hotel, situated on a 5.5 acre lot, is a 61 room, 2-building / 2-story, interior-corridor hotel built in 1989. Having completed a full renovation in 2015, spending over $600,000 in capital improvements, the Comfort Inn is in excellent condition with a minimal change of ownership PIP anticipated. Due to this renovation and repositioning, the subject property has experienced dramatically improved top and bottom-line performance and RevPar penetration, however current absentee ownership provides opportunity for incoming owner.
The property, consistently generating revenues in excess of $1,000,000, currently operates at a revpar premium to its competitive set, with greater-then fair share penetrations in both occupancy and adr. Top and bottom line revenue improvements have been dramatic since current ownership purchased the asset, renovating and repositioning the hotel and reaping the resulting benefits.
The hotel is located in Southwestern Virginia, within 10 miles of the West Virginia border, near Interstates I-77, I-81 and I-64. The completion of the four-lane US Highway 460 bypass along with the hotel’s proximity to these major transportation arteries, positions the Comfort Inn well, to take advantage of the east-west-transportation of goods, services and people along these routes.
.Hotel amenities include outdoor heated pool , free hot breakfast, free wi-fi, business center, picnic area, free parking, and in-room coffee/tea makers.
