INVESTMENT HIGHLIGHTS
Hunter Advisors has been exclusively engaged to solicit offers for the purchase of the 93-room Hyatt Place Des Moines Downtown (the “Hotel” or “Property”), located at 418 6th Avenue in the heart of Downtown Des Moines, Iowa. The Hotel is situated within the historic Liberty Building, a landmark mixed-use structure originally constructed in 1923 and thoughtfully repositioned into a modern hospitality and residential asset. Rising 12 stories with a basement, the Liberty Building offers a rare opportunity to acquire a nationally branded hotel within one of Downtown Des Moines’ most architecturally significant and recognizable buildings. The Hotel occupies the basement, ground level, and floors four through eight, while the remaining components include street-level retail, upper-floor residential condominiums (floors nine through eleven, not included in the sale), and vacant retail and office space on floors two, three, and twelve, highlighting meaningful long-term redevelopment potential. A private fitness club, Hillside Fitness, occupies prominent street-facing retail space, contributing to daily foot traffic and downtown activation. Positioned within historic Downtown Des Moines, the Hotel offers immediate access to the city’s primary corporate, governmental, entertainment, and cultural destinations and is directly connected to Des Moines’ four-mile, climate-controlled skywalk system, providing seamless pedestrian access to major employers, dining, retail, and the Iowa Events Center, which historically attracts over 1.1 million attendees across approximately 500 events annually. The Property is also located approximately 10 minutes from Des Moines International Airport, which is currently undergoing a $445 million terminal expansion designed to double gate capacity and support long-term passenger growth.
Irreplaceable, Walkable Downtown Location
The Hotel occupies a premier location in Downtown Des Moines, surrounded by the city’s most significant demand generators including the Iowa Events Center, Principal Park, Principal Financial Group headquarters, the Iowa State Capitol, the East Village, and the central business district. The Iowa Events Center serves as the region’s primary convention and entertainment hub, encompassing approximately 304,000 square feet of event space and historically hosting nearly 500 events annually that attract more than 1.1 million attendees, driving consistent year-round lodging demand. Downtown Des Moines is undergoing a sustained revitalization supported by major mixed-use development and expanding residential density, highlighted by the $700 million Market District redevelopment, which is expected to generate nearly $2 billion in long-term economic impact. The downtown core is further anchored by a concentration of major corporate and institutional employers, including Principal Financial Group, a Fortune 500 company ranked #263 in 2025, whose headquarters are located approximately 0.2 miles from the Property and employ roughly 6,100 employees, reinforcing the Hotel’s position to benefit from long-term urban growth, corporate demand, and increasing visitation.
Significant Operational and RevPAR Upside Post-PIP
The Hotel presents a compelling value-add opportunity driven by targeted capital investment and improved operating performance. With a TTM October 2025 RevPAR of $64.09, the Hotel currently ranks 6 of 6 within its competitive set, indicating meaningful performance upside relative to comparable properties. While no material capital has been invested into guestrooms or public areas since 2018, completion of the required change-of-ownership PIP will allow a new owner to refresh the physical product and better align the Hotel with current brand standards. When combined with the implementation of a more effective revenue management, sales, and operating strategy, the Property is well positioned to drive meaningful improvements in topline performance, margin expansion, and NOI, supported by the strength of the downtown demand base.
Offered at a Discount to Replacement Cost with Limited New Supply
The Property is being offered below replacement cost, providing investors with the opportunity to acquire a well-located, institutional-quality downtown asset at a basis meaningfully below what would be required to develop a comparable downtown hotel today. Rising construction costs, labor constraints, and tighter financing conditions continue to pressure new hotel development, while no hotels are currently under construction in the immediate downtown area, limiting near-term supply growth. This dynamic positions the Hotel to capture meaningful upside as downtown activity continues to grow, supported by revitalization efforts, convention demand, and new mixed-use development.
INVESTMENT HIGHLIGHTS
Hunter Advisors has been exclusively engaged to solicit offers for the purchase of the 93-room Hyatt Place Des Moines Downtown (the “Hotel” or “Property”), located at 418 6th Avenue in the heart of Downtown Des Moines, Iowa. The Hotel is situated within the historic Liberty Building, a landmark mixed-use structure originally constructed in 1923 and thoughtfully repositioned into a modern hospitality and residential asset. Rising 12 stories with a basement, the Liberty Building offers a rare opportunity to acquire a nationally branded hotel within one of Downtown Des Moines’ most architecturally significant and recognizable buildings. The Hotel occupies the basement, ground level, and floors four through eight, while the remaining components include street-level retail, upper-floor residential condominiums (floors nine through eleven, not included in the sale), and vacant retail and office space on floors two, three, and twelve, highlighting meaningful long-term redevelopment potential. A private fitness club, Hillside Fitness, occupies prominent street-facing retail space, contributing to daily foot traffic and downtown activation. Positioned within historic Downtown Des Moines, the Hotel offers immediate access to the city’s primary corporate, governmental, entertainment, and cultural destinations and is directly connected to Des Moines’ four-mile, climate-controlled skywalk system, providing seamless pedestrian access to major employers, dining, retail, and the Iowa Events Center, which historically attracts over 1.1 million attendees across approximately 500 events annually. The Property is also located approximately 10 minutes from Des Moines International Airport, which is currently undergoing a $445 million terminal expansion designed to double gate capacity and support long-term passenger growth.
The Hotel occupies a premier location in Downtown Des Moines, surrounded by the city’s most significant demand generators including the Iowa Events Center, Principal Park, Principal Financial Group headquarters, the Iowa State Capitol, the East Village, and the central business district. The Iowa Events Center serves as the region’s primary convention and entertainment hub, encompassing approximately 304,000 square feet of event space and historically hosting nearly 500 events annually that attract more than 1.1 million attendees, driving consistent year-round lodging demand. Downtown Des Moines is undergoing a sustained revitalization supported by major mixed-use development and expanding residential density, highlighted by the $700 million Market District redevelopment, which is expected to generate nearly $2 billion in long-term economic impact. The downtown core is further anchored by a concentration of major corporate and institutional employers, including Principal Financial Group, a Fortune 500 company ranked #263 in 2025, whose headquarters are located approximately 0.2 miles from the Property and employ roughly 6,100 employees, reinforcing the Hotel’s position to benefit from long-term urban growth, corporate demand, and increasing visitation.
The Hotel presents a compelling value-add opportunity driven by targeted capital investment and improved operating performance. With a TTM October 2025 RevPAR of $64.09, the Hotel currently ranks 6 of 6 within its competitive set, indicating meaningful performance upside relative to comparable properties. While no material capital has been invested into guestrooms or public areas since 2018, completion of the required change-of-ownership PIP will allow a new owner to refresh the physical product and better align the Hotel with current brand standards. When combined with the implementation of a more effective revenue management, sales, and operating strategy, the Property is well positioned to drive meaningful improvements in topline performance, margin expansion, and NOI, supported by the strength of the downtown demand base.
The Property is being offered below replacement cost, providing investors with the opportunity to acquire a well-located, institutional-quality downtown asset at a basis meaningfully below what would be required to develop a comparable downtown hotel today. Rising construction costs, labor constraints, and tighter financing conditions continue to pressure new hotel development, while no hotels are currently under construction in the immediate downtown area, limiting near-term supply growth. This dynamic positions the Hotel to capture meaningful upside as downtown activity continues to grow, supported by revitalization efforts, convention demand, and new mixed-use development.
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ABOUT HUNTER
Hunter Advisors is an investment advisory firm focused exclusively on the sale, purchase and financing of hotels. Our team draws on nearly 50 years of experience and close ties to Wall Street and Main Street to help clients around the country navigate every phase of the brokerage process, from valuation to closing. Hunter Advisors is also the founder of the Hunter Conference, hosted annually in Atlanta for 36 years running.
