Newmark Knight Frank in association with NAI Sioux Falls has been selected to exclusively market for sale three hotel properties in Grand Island, Nebraska. The Quality Inn & Conference Center is a full service, 100 room, midscale, two-story, dual brand property built in 1967 and completely renovated in 2018. Originally built as a 160 room hotel, the property has recently split and reduced rooms to 100 rooms with the other 60 rooms being converted to 49 extended stay suites as a part of the Suburban Extended Stay flag. Also adjacent to the property and also included in this fee simple sale is a 47 unit, two story, economy scale, limited service Days Inn built in 1967. Ideally situated along Interstate 80, closer to the intersection of Highway 30, these hotel properties are able to entertain transient highway travelling, corporate, destination, or local guests. Grand Island is the county seat of Hall County, and has a population of over 50,000 residents, ranked as the #4 most populous city in Nebraska. Grand Island currently enjoys a healthy population growth as well as an increasing average income. The Quality Inn & Conference Center, Suburban Extended Stay, and Days Inn all have convenient access to local attractions including the Heartland Events Center, Crane Trust Nature & Visitor Center, Heartland Shooting Range, and Nebraska State Fairgrounds/Fonner Park. Currently ranked as the #5 and #7 of 25 places to stay in Grand Island, the Quality inn & Days Inn consistently perform above expectations and attract return guests to the spacious, updated rooms or the restaurant and conference spaces available. Expected to continue increasing in revenue as the Suburban Extended Stay stabilizes, this asset provides a very attractive 35% five year levered Internal rate of return.
BOR
Troy Fawcett
NAI Sioux Falls
License: 0980377
