136 Rooms Sheraton in big city of Upper Mid West affiliated with Marriott to be converted into Fairfield Inn and Suites

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136 Rooms Sheraton in big city of Upper Mid West affiliated with Marriott to be converted into Fairfield Inn and Suites and delivered turnkey as Fairfield Inn and Suites

Asking Price: $ 14,600,000

STRENGTHS OF THE ASSET

  • A significant planned PIP with conversion from Sheraton to Fairfield Inn and Suites will give significantly improved results
  • The hotel is currently affiliated with the Sheraton Marriott Brand Family, a nationally recognized hotel franchise but owner intends to convert in to Fairfield Inn and Suites also Marriott affiliation for better financial results
  • As a Marriott franchisee hotel get very strong reservation system from Marriott
  • There is virtually no vacant land available for new construction of hotels in the area
  • The hotel is in a mid-tier pricing model, which has larger appeal to the mass market.
  • The hotel location is in an area of high density and mixed development

Actuals as Sheraton

Period ForADROccupancyREVPARHotel Rev
2018$ 117.1368.5%$ 80.21$4,230,859
2019$ 121.4968.2%$ 82.91$4,115,837





Projections As Fairfield Inn and Suites

Period ForADROccupancyHotel Rev
First Year as Fairfield Inn and Suites$ 130.7166.16%$ 4,531,054
Net Income$ 1,485,971