RESIDENCE INN BOISE DOWNTOWN UNIVERSITY

Boise, Idaho

Deal Type: Acquisition 

Risk Profiles: Core Plus, Value-Add

Property Type: Hotel & Hospitality 

PROPERTY OVERVIEW

Excellent Location 

The Residence Inn Boise Downtown University is a 104-key hotel located near various attractions in Downtown Boise. Demand generators in the area include Idaho Central Area, Boise State University, the Boise Centre, Boise Zoo, Ada County Courthouse, Micron, Hewlett Packard, St. Luke's Hospital, and the VA Hospital. 

Institutional Extended Stay Marriott Branded Asset

Residence Inn by Marriott prides itself on providing an exceptional experience for longer-stay guests, emphasizing personalized service and creative design elements. Extended stay hotels have achieved occupancy rates 10% - 14% higher than the average hotel over the last 20 years and proved resilient during and after COVID-19 with minimal losses compared to traditional hotels. As premium branded assets, these properties enjoy distinct competitive advantages, supported by their extensive rewards and reservation systems and the widely recognized Marriott name. All Marriott properties benefit from the esteemed Marriott Bonvoy reward program, boasting an impressive membership base of over 160 million individuals across 31 brands and spanning more than 8,000 hotels worldwide.

Strong Performing Asset

The Residence Inn Boise Downtown University is performing exceptionally well and is a high cash flowing asset. During the Trailing Twelve Month period ending July 2023, the Residence Inn has consistently achieved ~80% Occupancy and is currently generating a RevPAR of $126.83.

Offered Below Replacement Cost in High Growth Market

The Residence Inn Boise Downtown University is being offered at a discount to replacement cost with construction costs at an all-time high. The offering presents an opportunity to buy into a growing market at an attractive basis.