HAMPTON INN BECKLEY
Beckley, West Virginia
Deal Type: Acquisition
Risk Profiles: Core, Core Plus
Property Type: Hotels & Hospitality
PROPERTY OVERVIEW
Excellent Location within a Dynamic Market
The Hampton Inn Beckley is a 108-key hotel conveniently situated off I-64, near I-77, and in close proximity to various demand generators. Nearby attractions include the Tamarack (0.5 miles), West Virginia University Institute of Technology (3 miles), Exhibition Coal Mine (3 miles), New River Gorge National Park (9 miles), Burning Rock Off-Road Park (11 miles), Winterplace Ski Slopes (15 miles), and Grandview National Park (16 miles). The property's location has allowed for the hotel to maintain an average occupancy of 83% since 2019.
Strong Metrics and Cash Flow with Additional Upside
The Hampton Inn Beckley has demonstrated exceptional performance, boasting an impressive $127 RevPAR for the Trailing Twelve Month (“TTM”) period ending July 2023 and has averaged $106+ since 2019. Despite being due for a renovation, strong top line metrics have allowed the Hotel to produce strong cash flows. Significant upside remains upon completion of a change-of-ownership PIP. The improved product offering combined with continued market growth expectations will likely result in RevPAR and NOI levels well exceeding in-place metrics.
Institutional Hilton Branded Asset
Hampton by Hilton is the industry’s leading upper mid-scale brand, and for the 14th year in a row, Hampton by Hilton was named the No. 1 hotel franchise and ranked No. 9 overall on the annual list of the world’s top franchises by Entrepreneur Magazine. Every Hampton Inn and Hampton Inn & Suites is committed to the Hampton Guarantee, providing an exceptional guest experience and consistent, high-quality accommodations and amenities. All Hilton properties are backed by the Hilton Honors reward program, which boasts over 128 million members across 18 brands and more than 6,500 hotels worldwide.
Unencumbered of Management and Debt
The Hampton Inn Beckley is being offered unencumbered of current management and any debt.
101 Harper Park Dr, Beckley, WV 25801