PROPERTY OVERVIEW

Receivership Sale

The Springhill Suites Baltimore BWI is being sold through a Lender / Receiver Sale, offering significant value to an investor. The Hotel’s previous borrower defaulted on its loan following a maturity in June of 2023. A receiver was later appointed in March of 2024. Upon sale a free and clear title will be issued to a new buyer.

Significant Operational Upside

Upon change of ownership there is significant opportunity to enhance both revenue and cash flow through property improvements and the implementation of an efficient management strategy. The property currently ranks 4 out of 7 in RevPAR against its competitors achieving a RevPAR of $81.99, with an index penetration of 113.0%. As of the Trailing Twelve Month (“TTM”) ending in September 2024, the Hotel reported Total Revenues of $4,114,668, generating cash flows of $459,352, representing an 11.2% NOI margin, well below industry average. The adoption of a more efficient management strategy, additional capital expenditures, and sustained market growth expectations will likely result in RevPAR and NOI levels that significantly surpass current performance metrics.

Offered Below Replacement Cost In High Growth Market

The SpringHill Suites Baltimore BWI Airport is being offered at a discount to replacement cost in a rapidly growing market. The Baltimore/Washington International Thurgood Marshall Airport is undergoing a $425 million expansion to increase its capabilities, responding to consistent record-breaking passenger volumes. In July alone, the airport saw over 2.6 million commercial passengers, representing an 8.4% growth compared to the same period last year. The offering presents an opportunity to buy into an exponentially growing market at an attractive basis.