PROPERTY OVERVIEW

 

EXCELLENT LOCATION

The HomeTowne Studios Colorado Springs - Airport is located directly off U.S. Route 24 proximate to Peterson Space Force Base, Colorado Springs Airport, as well as numerous leisure attractions. Peterson Space Force Base, located 6 miles from the Hotel, is a military installation that drives considerable demand to the area. Tracing its roots back to Colorado Springs Army Air Base, which was established in 1942, Peterson SFB has deep ties to the local community and is a significant employer with more than 25,000 total personnel including more than 5,800 active-duty soldiers and 2,250 reserve/guard soldiers. Home to Space Base Delta 1 and NORAD, Peterson SFB has a substantial economic impact of more than $6.25 billion each year. Sharing a runway with Peterson SFB is Colorado Springs Airport, which connects travelers to the area. Colorado Springs Airport served 2.3 million passengers in 2023, representing a 10% year-over-year increase. Driving leisure demand are a number of local attractions such as the National Museum of World War II Aviation, El Pomar Youth Sports Park, the U.S. Olympic & Paralympic Museum, and downtown Colorado Springs which features a number of local eateries and entertainment venues.

UPSIDE UPON REVAMPED MANAGEMENT STRATEGY

Currently institutionally managed, a Buyer has the opportunity to increase RevPAR and NOI margins upon implementation of a revamped management strategy and rebuilding the base business achieved in years past.

 

OFFERED BELOW REPLACEMENT COST WITH MINIMAL CAPITAL EXPENDITURE REQUIREMENTS

The HomeTowne Studios Colorado Springs - Airport is being offered at a discount to replacement cost with construction costs at an all-time high. Additionally, Red Roof has issued a change-of-ownership PIP that is minimal in scope, allowing the Buyer to purchase an asset that requires limited immediate capital expenditures.

3490 Afternoon Cir, Colorado Springs, CO 80910