Leisure Real Estate Blog

Price Reduction – Harper Motel in southern Kansas

Friday, January 23 2015 8:43 AM
Categorized In Property Updates

Leisure Real Estate Advisors, LLC announces a price reduction for the Harper Motel in Harper, KS.  This 22 key property, located just 40 minutes southwest of Wichita, is a perfect fit for a first time buyer.

Key selling points for this motel include:

  • Increasing revenue in both 2013 & 2014 ($237,000 in 2014)
  • Strong NOI of $90,000
  • Price Reduced to $495,000 - Only 2.1x 2014 RR!
  • Broad mix of business
  • Completed appraisal
  • Local bank willing to finance
  • Closing within 45 days
  • Quiet, safe community with excellent school system
  • Only 40 minutes from Wichita Airport
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New Hotel Opportunity in Dodge City Kansas

Monday, September 23 2013 8:20 AM
Categorized In Property Updates

Comfort Inn - Dodge City, Kansas

Leisure Real Estate Advisors, LLC announces it has been retained as exclusive marketing agent for a 54 key Comfort Inn located in the heart of Dodge City, KS

“Comfort Inn is a very attractive flag for mid-market investors and Dodge City is an active hospitality market,” says Brent A. Jaynes, managing partner of Leisure Real Estate Advisors. “Both of these factors will contribute to the marketability of this property. Having said that, however, the attractive cash flow will be the driving motivator for the eventual sale of the hotel,” he adds.

This Comfort Inn features a very nice curb appeal and is located in the heart of historic Dodge City on the main thoroughfare, Wyatt Earp Boulevard.  The hotel is only minutes away from historic city center, where the Boot Hill Museum is located.  The new Boot Hill Casino and the new United Wireless Arena are both located minutes to the west.  In addition to the many foregoing venues, the energy businesses of wind & oil are also major contributors to the hospitality business. The agribusiness sector has also been very strong with increases in demand for commodities and farm ground. Land prices in Kansas have experienced significant increases over the past 5 years.   The support services surrounding these activities continue to fuel business travel in Dodge City. Cargill and National Beef employ nearly 6000 folks in their two local beef processing plants.

This Comfort Inn offers an attractive top line revenue and a superior net income.  It is a classic size property for an on-site owner-operator or regional operator. The local market and the hotel lend themselves to a very nice hotel investment. “Jacob Quinn, co-listing agent out of the Kansas City office comments further, “The investment market has changed dramatically over the past twelve months. Cash flow has replaced distress assets as the preferred vehicle for investment and the Comfort Inn satisfies that need nicely.“

View the Full Executive Summary

Leisure Real Estate Advisors, LLC is based in metro Kansas City, with branch offices in Lincoln, NE and Jefferson City, MO, and has a specialty concentration in the marketing and sale of hotels. Over its 15 year existence, the company has become one of the premier hotel brokerage firms in the country and boasts collective closing volume of over 1 billion dollars.

For more information on this investment opportunity or to discuss the investment market in general, please direct your questions to:

Brent A. Jaynes
Managing Partner
Leisure Real Estate Advisors
Email 
913-894-5252 

Jacob Quinn
Hospitality Investment Advisor
Leisure Real Estate Advisors
Email
913-220-2667

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LREA Adds 3 New Hotels for Sale in Kansas

Monday, September 9 2013 8:16 AM
Categorized In Property Updates

Leisure Real Estate Advisors, LLC, is pleased to announce its appointment as exclusive marketing agent for three west-central Kansas hotels, the 71 unit Best Western Butterfield Inn, the 91 key America’s Best Value Inn – Vagabond, both in Hays, KS and the 58 unit Days Inn & Suites in Ellis, KS. All of the hotels are owned by the same family partnership group who has been operating in the area for over 40 years. While these hotels could be purchased together, they will be marketed individually.

“We are very pleased to have received this assignment,” says Brent A. Jaynes, co-founder of Leisure Real Estate Advisors. “We consider it a privilege to represent the members of this local family on these assets. They have built a reputation of leadership, quality and service in the hospitality business over many decades.”

Best Western Butterfield Inn - Hays, KansasBest Western Butterfield Inn – Hays, Kansas
The Best Western was completed in 2008 and features an upscale “sense of arrival” not seen in many Best Western hotels. A quick look at the exterior photos supports this assertion, in that the attractive finishes and architectural materials elevate this hotel to a market equal to an Express or Hampton. Furthermor the interior finishes portray the same impression as the exterior. The Hays market continues to be strong and this hotel has responded with a very nice top line revenue, even in the face of newer head to head competitors such as Hampton & Holiday Inn Express. Comfort Suites and Fairfield Inn are already in the market, which means that all of the major well known competitive brands are already in place. For additional information and photographs on this offering, you may access the executive summary by utilizing the following link: Best Western Executive Summary

America's Best Value Inn

America’s Best Value Inn
This ABVI offers a great location near the intersection of 27th & Vine, the busiest retail intersection in Hays. Although this hotel is south of I-70, it does offer a high traffic location.  This multi-building property was a former BW and has been well maintained.  Hays is known for its vibrant & regional business climate, including demand generators such as Fort Hays State University. The city also includes other major employers including Hays Regional Medical Center (220 beds) and those in agribusiness, manufacturing, and energy exploration and production. This hotel offers a number of distinct opportunities and alternatives, including subdivision into a hotel/rental operation, reflag, or a combination.  It is best suited for a owner-operator or a family operation. Also offered is an adjacent restaurant building that can be purchased with the hotel or separately. Hays is located in the highest oil production county in Kansas. For additional information and photographs on this offering, you may access the executive summary by utilizing the following link:  ABVI Executive Summary 

Days Inn & Suites - Ellis, KansasDays Inn & Suites – Ellis, Kansas
This extremely attractive Days Inn & Suites offers a great location and visibility right off Interstate 70. It is a newer property, built in 2010 and includes 59 modern guest rooms .  This is not a typical Days Inn, it offers finishes and features above and beyond those found in most Days Inns. It has achieved a 5 sunburst rating from Wyndham and 4.5 (out of 5) on TripAdisvor.  The hotel further benefits from a real estate tax abatement (7 years remaining) granted by the state and by the City of Ellis.  The tax abatement is transferable to a new owner with City approval.  Ellis, is only 11 miles west of Hays, which is the largest City in northwest Kansas, with an approximate population of 20,000. Ellis County is the largest oil producing county in Kansas, which is the 8th largest oil and gas production state in the country.
For additional information and photographs on this offering, you may access the executive summary by utilizing the following link:  Days Inn Executive Summary 

“Although different in their design, brand and clientele, all three of these properties offer a multitude of opportunities for new owners, all in a growing area with a vibrant economy and low unemployment”, comments Jacob Quinn, Hospitality Investment Advisor, based out of the Kansas City office

Leisure Real Estate Advisors, LLC is based in metro Kansas City, with branch offices in Lincoln, NE and Jefferson City, MO, and has a specialty concentration in the marketing and sale of hotels. Over its 15 year existence, the company has become one of the premier hotel brokerage firms in the country and boasts collective closing volume of over 1 billion dollars.

For more information on these investment opportunities or to discuss the investment market in general, please direct your questions to:

Brent A. Jaynes
Managing Partner
Leisure Real Estate Advisors
Email 
913-894-5252 

Jacob Quinn
Hospitality Investment Advisor
Leisure Real Estate Advisors
Email
913-220-2667

 

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Newer Hampton Inn Available for Unusually Low Per Key Price!

Thursday, August 15 2013 1:10 PM
Categorized In Property Updates

Hampton Inn - Miami, OklahomaLeisure Real Estate Advisors, LLC, is very pleased to announce its appointment as exclusive marketing agent for the Miami Oklahoma Hampton Inn.  Miami is located in northeast OK, half way between Tulsa, OK and Springfield, MO.  It is an interstate hotel (I-44 and the Oklahoma Turnpike), with great access to the lakes and to the casinos.

“We are always excited when we receive a Hampton Inn assignment”, says Brent A. Jaynes, co-founder of Leisure Real Estate Advisors.  “The Hampton Inn brand is among the strongest mid-market brands, and it usually brings a high level of investor inquiry”, comments Jaynes.  “We have been fortunate, in that a significant number of Hampton owners have entrusted their hotels to us.”

This Hampton Inn is a 74 unit hotel located just off of Exit 313, I-44.  Built in 2007, it is the newest prototype and features all of the current design requirements by Hampton, including the breakfast area.  The “Perfect Mix Lobby” initiative was rolled out during construction and the owner re-designed the breakfast area late in the construction process at considerable expense, in order to comply.  It features easy access and visibility from heavily traveled I-44 and offers a location near 13 casinos owned by various Indian tribes of NE Oklahoma.  Northeast Oklahoma A&M College is also nearby.  Besides the newer build, the most appealing aspect of the offering is the price per key.  Priced at $63K per key, it is very difficult to find any newer Hampton Inn for under $80K per key.  Needless to say, you will be dealing with a motivated seller.  His primary business is not hotels, and this is the last one in his portfolio.  His goal is to reallocate his assets back into his core business.

“It goes without saying that anytime we list a Hampton, we look forward to these assignments, and this hotel is no exception.”, says Jaynes.  Mr. Jaynes further remarked, “Over the past year, this market has normalized a bit and has transitioned from a distressed mentality.  We are seeing a good deal of activity, which is quite encouraging.   I am quite confident the offering will attract attention”.

Leisure Real Estate Advisors, LLC is based in metro Kansas City, with branch offices in Lincoln, NE and Jefferson City, MO, and has a specialty concentration in the marketing and sale of hotels.  Over its 15 year existence, the company has become one of the premier hotel brokerage firms in the country and boasts collective closing volume of over 1 billion dollars.

View the Full Executive Summary

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LREA Appointed to Represent 2 More Properties in Missouri & Kansas

Wednesday, July 31 2013 2:22 PM
Categorized In Property Updates

Country Inn - Nevada Missouri

Leisure Real Estate Advisors, LLC, is pleased to announce its appointment as exclusive marketing agent for two central US hotels, one in Kansas and the other in southwest Missouri, both under different ownerships. The 68 unit Country Inn & Suites is located in Nevada, MO and the other hotel is a Kansas Holiday Inn Express Hotel & Suites.

“We are very pleased to have received both of these assignments”, says Brent A. Jaynes, co-founder of Leisure Real Estate Advisors. “The Country Inn & Suites represents one of the best cash flow, return on investment deals that we have in our listing portfolio.” The property is located on Interstate 49 between Kansas City and Joplin, MO (I-44), within a very active business town. Nevada is only about an hour and a half drive from the southern KC suburbs. It features a number of national companies, including 3M Corporation and American Standard and a 4 year private college, Coffey College.

HIE

The second hotel is Holiday Inn Express located in Kansas. “It is a confidential listing so I can’t go into detail. However, it is suffice to say that it the newer Express prototype and is a high revenue producer. It is also a ‘hotel & suites’ and features a number of attractive room types, says Jaynes. As folks in the hotel business know, the Express brand is highly sought after and has significant appeal to the investment community.”

Country Inn & Suites - View Full Executive Summary

Holiday Inn Express - View Full Executive Summary

Leisure Real Estate Advisors, LLC is based in metro Kansas City and has a specialty concentration in the marketing and sale of hotels. Over its 15 year existence, the company has become one of the premier hotel brokerage firms in the country.

For more information on this investment opportunity or to discuss the investment market in general, please direct your questions to:

Brent A. Jaynes
Managing Partner
Leisure Real Estate Advisors
bjaynes@leisurerealestate.com

913-894-5252 

Jason Dent
Investment Advisor
Leisure Real Estate Advisors
jason.dent@leisurerealestate.com

573-449-2700

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SUPER 8 – Oskaloosa, IA Shows Increases in 2011 Revenue & NOI!

Tuesday, February 28 2012 3:06 PM
Categorized In Property Updates

2011 RR – $432,300

2011 NOI – $153,000

49 Units, 2-Story, Interior Corridor, Absentee Owned

Bank/SBA Financing with 20% down payment

View Property Details

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PRICE REDUCTION – Budget Inn & Suites; Des Moines, IA

Tuesday, February 28 2012 9:36 AM
Categorized In Property Updates
Price Reduced to $1.9M
2011 Total Revenue of $690,000
2011 NOI of $190,200

Owner Financing Available with 15% down for qualified candidates

Run as an Independent or Howard Johnson flag available

View Property Details Here

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