PORTFOLIO OVERVIEW
The Holiday Inn Express & Suites Dover and the Sleep Inn & Suites Dover offer a compelling dual-branded investment opportunity located in Dover, the capital city of Delaware. Positioned directly on North Dupont Highway, the Hotels enjoy exceptional visibility and access to the market’s premier demand generators. Less than one mile away is Dover Motor Speedway, a top-tier NASCAR venue that delivers an estimated $60 million in annual economic impact and also serves as the headquarters for the Monster Mash Marathon. Adjacent to the Speedway is Bally’s Dover Casino Resort, the largest casino in the state, featuring over 2,000 slot machines, table games, and a 250-seat sports book, attracting consistent leisure, group, and gaming-related demand.
The assets are also supported by robust academic demand. Within one mile of the Hotels is Delaware State University, ranked the #3 public HBCU and #9 overall HBCU in the nation, enrolling approximately 6,500 students and fielding 18 NCAA Division I athletic programs. Additionally, Delaware Technical Community College is located nearby, enhancing year-round occupancy from the educational sector. This diverse mix of leisure, gaming, and academic demand provides a strong foundation for ongoing operational success.
Operational Synergies
Situated on the same parcel, the Holiday Inn Express & Suites Dover and the Sleep Inn & Suites Dover benefit from shared operational efficiencies across key departments, including management, sales, housekeeping, and maintenance. This co-location allows a new owner to streamline staffing, reduce overhead costs, and optimize operational performance across both assets. The ability to leverage shared resources enhances profitability and provides scale advantages not typically available to single-branded properties, positioning the portfolio as an efficient and cost-effective investment.
Limited New Supply
The Dover hotel market remains supply-constrained, with no new hotels under construction or in final planning stages within a five-mile radius of the Hotels. This limited development pipeline ensures a stable competitive environment, allowing a new owner to focus on revenue growth and operational efficiency without the risk of significant new supply disrupting performance.
Recurring Festival Demand
The Woodlands at Dover Motor Speedway, historically the site of the Firefly Music Festival, continues to host large-scale music events that drive significant lodging demand. In August 2024, the venue welcomed Phish’s Mondegreen festival, a four-day event that attracted thousands of attendees and boosted hotel occupancy throughout the market. The ongoing use of The Woodlands for major festivals and concerts highlights the venue’s enduring appeal and the potential for recurring demand surges, directly benefiting nearby hospitality assets.
Offered Below Replacement Cost
The Holiday Inn Express & Suites Dover and Sleep Inn & Suites Dover are offered at a significant discount to replacement costs, providing an attractive opportunity to acquire two well-positioned assets in the heart of Dover. With elevated land, labor, and material costs, developing comparable hotels in this market would require a considerably higher basis. This offering allows a new owner to secure two established assets with strong brand affiliations and operational synergies, below the cost to build new, while benefiting from in-place cash flow and long-term market stability.
LISTING CONTACTS
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ABOUT HUNTER
Hunter Hotel Advisors is the leading investment advisory firm focused exclusively on the hotel industry. Their seasoned team of investment professionals and offices nationwide consistently provide clients with optimal results in hotel brokerage, financial advisory and capital markets services of any size or complexity. With over 45 years of experience in both full and select-service single assets as well as portfolio marketing, the firm’s capacity in valuation, economic analysis, and industry relationships has allowed HUNTER to consistently maximize value regardless of market conditions.
Hunter Hotel Advisors is the founder and producer of the well-known and respected Hunter Hotel Investment Conference. Since their first conference in 1989, they have had a consistent focus on producing an educational and networking format based on real estate and finance for hotel owners.
