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Holiday Inn Express & Suites Opelousas 5696 I 49 N Service Rd 78 Room Hotel Opelousas, LA 70570 $9,250,000 ($118,590/Room) 10.32% Cap Rate
INVESTMENT HIGHLIGHTS
- 78-room IHG-branded hotel - converted to Holiday Inn Express in 2022
- Consistently the #1 performer in its comp set for Occupancy, ADR, and RevPAR
- Near Evangeline Downs, GEO Group’s ICE Facility, Tony Chachere’s, and Walmart Distribution
- Franchise agreement in place through 2036 with minimal Change of Ownership PIP expected
- Located directly off I-49, with proximity to I-10 and strong corporate/government demand drivers
EXECUTIVE SUMMARY
Altman Hotel Group with Marcus & Millichap is pleased to present the Holiday Inn Express & Suites Opelousas, a 78-room, interior corridor hotel located directly off I-49 in Opelousas, Louisiana. Originally built as a Holiday Inn and converted to a Holiday Inn Express in 2022, the property benefits from a strong franchise with minimal anticipated Change of Ownership PIP. The current IHG franchise agreement is in place through 2036, offering long-term brand stability for an incoming owner.
The hotel has consistently outperformed its competitive set with a 3-year average RevPAR index of 148.8%, ranking #1 in Occupancy, ADR, and RevPAR for both 2023 and 2024. The property is strategically located near major demand drivers, including Evangeline Downs Racetrack & Casino, the GEO Group’s South Louisiana ICE Processing Center, Tony Chachere’s facility, and the Walmart Distribution Center.
This offering presents a rare opportunity to acquire a top-performing, recently converted IHG asset in a stable tertiary market with proven upside and limited nearby competition.
The hotel has consistently outperformed its competitive set with a 3-year average RevPAR index of 148.8%, ranking #1 in Occupancy, ADR, and RevPAR for both 2023 and 2024. The property is strategically located near major demand drivers, including Evangeline Downs Racetrack & Casino, the GEO Group’s South Louisiana ICE Processing Center, Tony Chachere’s facility, and the Walmart Distribution Center.
This offering presents a rare opportunity to acquire a top-performing, recently converted IHG asset in a stable tertiary market with proven upside and limited nearby competition.
PROPERTY FACTS
| Price | $9,250,000 | Lot Size | 1.53 AC |
| Price Per Room | $118,590 | Building Size | 66,647 SF |
| Sale Type | Investment | No. Rooms | 78 |
| Cap Rate | 10.32% | No. Stories | 3 |
| Property Type | Hospitality | Year Built/Renovated | 2001/2022 |
| Property Subtype | Hotel | Parking Ratio | 1.2/1,000 SF |
| Building Class | B | Corridor | Interior |
| Zoning | C2 - Heavy Commercial | ||
| Price | $9,250,000 |
| Price Per Room | $118,590 |
| Sale Type | Investment |
| Cap Rate | 10.32% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.53 AC |
| Building Size | 66,647 SF |
| No. Rooms | 78 |
| No. Stories | 3 |
| Year Built/Renovated | 2001/2022 |
| Parking Ratio | 1.2/1,000 SF |
| Corridor | Interior |
| Zoning | C2 - Heavy Commercial |
AMENITIES
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 22 | $192.00 | - |
| Guest Room | 56 | $151.00 | - |
PROPERTY TAXES
| Parcel Number | 0102843500 | Improvements Assessment | $629,400 |
| Land Assessment | $27,450 | Total Assessment | $656,850 |
PROPERTY TAXES
Parcel Number
0102843500
Land Assessment
$27,450
Improvements Assessment
$629,400
Total Assessment
$656,850
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Holiday Inn Express & Suites Opelousas | 5696 I 49 N Service Rd
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