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2401 Washington BlvdOgden, UT 84401
Hampton Inn & Suites Ogden
Asset ClassHotel & Hospitality
overview of deal

Overview

  • Unique, High-Quality Asset, Offered Below Replacement Cost: Originally built in 1913 as the Eccles Building that served as a bank for many years, this keystone hotel building in downtown Ogden has attractive boutique characteristics such as ornate lobby features and unique metal beams.

 

  • Ongoing Renovation to the Ogden Eccles Conference Center: The Property is adjacent to the 70,000 square foot Ogden Eccles Conference Center where continuing renovations are set to be completed in Spring 2025. The renovation budget is slated to be just under $18M.

 

  • Terrific Location: The Property is located in the heart of downtown Ogden, the home of Weber State University and just 35 miles North of Salt Lake City. Ogden was ranked #16 for Best Places for Business and Careers, #25 in Job Growth, and #63 in Cost of Doing Business (Forbes). Located within a short walk of many downtown Ogden amenities and attractions, visitors often choose the Hotel as a central hub.

 

  • High Performance Market, With Upside: As of November 2023, the Salt Lake City/Ogden market has seen a 9.1% increase in twelve-month average RevPAR.

 

  • Brand Optionality: An investor has the ability to replace the Hampton Inn & Suites flag with a soft brand such as Tribute or Tapestry, or renovate and retain the current Hampton Inn & Suites flag.
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Investment Highlights

The Hampton Inn & Suites Ogden represents an excellent opportunity to acquire a unique, institutional-grade asset in the heart of downtown Ogden with branding flexibility. A buyer will have the ability to renovate this unique historic building and either remain a Hampton Inn & Suites or convert to a soft brand such as Tribute or Tapestry. As the Hotel is ranked 4 of 6 in RevPAR (Nov 2023), renovation and/or rebranding scenarios are attractive options to improve the Hotel's positioning within its competitive set.

 

Located adjacent to the Ogden Eccles Conference Center, the Hotel has immediate access to the facilities. The center offers two levels of spacious and flexible gathering space that can accommodate for events of up to 1,500 attendees. A significant expansion is underway at the Eccles Center, with approximately $17.7M slated for improvements that should be completed in Spring of 2025.

 

The Hotel is also situated 0.6 miles east of Ogden Union Station, which was formerly the junction of the Union Pacific (UP) and Central Pacific (CP) railroads. In December 2022, Ogden City entered into a purchase agreement with UP to buy the land under and around the station (~30 acres) for $5.5M. They plan to pursue development of the area around the station into a downtown business and tourist hub, as well as potentially bring rail service back to the station itself.

Major employers near the Hotel include the Office of Inspector General for Tax (IRS), McKay Dee Hospital Center, and Weber State University. These employers each have over 2,000 workers and effectively drive the local economy. Other notable employers include America First Credit Union, Fresenius USA, Nutraceutical, Associated Food Stores, Columbia Ogden Medical Center, and many more.

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2401 Washington BlvdOgden, UT 84401
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Listing provided by Revere CRE