deal image
3020 Riffel DriveSalina, KS 67401
Courtyard by Marriott
Asset ClassHotel & Hospitality
# Keys80
# Keys: 80Year Built: 2006# Stories: 4Access Data Room
Premium flag, great market, opportunistic price, offered at less than $75K per key
overview of deal

Overview

  • 80 keys
  • Built 2006
  • Price per key: $74,875
  • Price plus PIP investment still 40% below replacement cost
  • Operates 25% below its compset in Revpar
  • Prime location off interstate I-135, busiest retail area of Salina
  • 4.7 out of 5.0 Marriott verified reviews

 

Access the Data Room

Investment Highlights

# Stories
4

• 14.4% Cap Rate before management fee

• YTD 2024 revenue & RevPar up 15%

• Opportunistically priced with PIP in mind at less than $75k per key, 60% less than today’s replacement cost

• RevPar is currently 25% below the nearby Hilton products

• Ownership transfer PIP is available

• The completion of the PIP could reposition the Courtyard back to historical performance at an "all in" cost still less than 40% of today's cost

• Historically, one of the market leaders, along with Hilton Garden Inn & Hampton

 

 

deal gallery image
deal gallery image
deal gallery image
3020 Riffel DriveSalina, KS 67401
Tony's Pizza Events Center
Kansas State Aerospace and Technology
Phillips Lighting
Interstate 135
Salina Regional Airport

Inquire

Listing provided by Revere CRE