Colliers, as an exclusive representative of the ownership, is pleased to present to qualified investors for their acquisition consideration the newly-constructed Holiday Inn Express Asheville-Woodfin at 4 Reynolds Mountain Blvd, Asheville, NC 28804. The subject property recently opened in May/June of 2024. The hotel consists of 56,221-square-feet across 109 guest rooms and sits on a 2.13-acre parcel. The hotel is offered fee-simple and unencumbered of management.

The property is located in an affluent suburb of north Asheville and sits immediately off of Interstate 26 (59,000 vehicles per day) and Highway 19/25-Weaverville Road (12,000 vehicles per day), a 5-mile drive to downtown Asheville and a 15-mile drive to the Asheville regional airport. The property is a four-story, concrete-built, limited-service hotel. The hotel offers an indoor pool, a breakfast dining area, a 580-square-foot meeting space, a business center, a market pantry, and a guest laundry room. The hotel offers 109 parking spaces in accordance with its 109 guest rooms, which are comprised of 65 king rooms and 44 two-queen rooms. The property sits in the CS Community Shopping zoning district. The hotel originally was proposed as a new-construction Wingate Inn by Wyndham, bought was purchased by the current owner mid-construction, who terminated the franchise agreement with Wyndham and opted to convert the hotel’s franchise and finish construction as a Holiday Inn Express by IHG. As part of the transaction, the hotel was recently appraised and underwent an environmental report, which came back with minimal risks, and an appraisal, which estimated the stabilized value of the hotel to be $21,100,000. The transaction consummated in 2023, and a new 20-year agreement was signed with IHG for the Holiday Inn Express franchise, which is valid until 2043.