OFFERING OVERVIEW:
JDS Real Estate Services, Inc. in association with DSH Hotel Advisors has been retained as the exclusive broker to market for sale the Holiday Inn Express & Suites, a 70-room interior corridor hotel located directly off of Interstate 70 approximately 20 minutes from Dayton. The subject property is currently under renovation with the majority of the property improvement plan expected to be completed prior to a new owner purchasing the hotel.
PROPERTY CONDITION:
The subject property remains in excellent condition due to an ongoing capital improvement plan and recent renovations completed. It is estimated that the change of ownership PIP would be approximately $200,000+/-; however, that is only an estimate and would need to be verified by InterContinental Hotels Group via an issued change of ownership PIP. It is estimated that the current owners have spent approximately $1,200,000+/- in recent renovations / PIP requirements.
RENOVATIONS COMPLETED / IN PROGRESS INCLUDE:
NEW MATTRESSES
NEW FITNESS CENTER FLOORING & DECOR
NEW MARKET PLACE
NEW INTERIOR & EXTERIOR SIGNAGE
NEW BUILT-IN COUNTER TOPS ALL GUEST ROOMS
NEW CARPETS IN GUEST ROOMS
NEW LOBBY FIXTURES
NEW LOBBY FURNISHES & DECOR
NEW BUSINESS CENTER
NEW BREAKFAST BAR SPACE
NEW BREAKFAST BUFFET CABINETRY & COUNTER TOPS
NEW VANITY, SINK, HARDWARE, LIGHT FIXTURES, AND VANITY MIRRORS LOBBY BATHROOM
NEW MEETING AREA CARPET, WALL VINYL, BARN-DOOR ENTRANCE, TABLES, AND DECOR
NEW POOL DECK FURNITURE
NEW RESURFACED POOL
NEW CARPET & WALL VINYL CORRIDORS
NEW CARPET STAIRWELLS
NEW GUEST LAUNDRY COUNTER-TOPS AND KNOB-STYLE HARDWARE AT STORAGE CLOSET
NEW 40 INCH TV’S GUEST ROOMS
Property Highlights:
• 70-Room Holiday Inn Express & Suites by InterContinental Hotels Group
• 2001 Construction | Interior Corridor | Three Stories
• $1,200,000+/- in Recent Renovations
• Significant Upside Potential Due to Recent Renovation
• On-Site Amenities Include an Indoor Pool, Breakfast Seating Area, Fitness Center, Meeting Space, and High-Speed Internet
Location Highlights:
• Situated Directly off of Interstate 70
• 20 Minutes from Dayton, OH
• 20 Minutes from Dayton International Airport
• 30 Minutes from National Museum of the US Air Force
• Located In the Dayton Metropolitan Statistical Area
Financial Highlights:
• Offered at an 8.09% Cap Rate
• T12-October 2019 Room Revenue of $1,498,424
• T12-October 2019 Approximate Net Operating Income of $420,702
• Offered at Approximately a 3.47x Room Revenue Multiplier
• $74,285 Per Key
• Upward Trend in Revenue
• SBA Financing Available
• Upside Through Hands-On Management
