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. It features a one bedroom manager's quarters (can be converted to three bedroom) behind the front desk and another two bedroom living quarters leased on a monthly basis. It is only minutes from the well known Fort Hays State University (a four year university) with an enrollment of more than 13,000 students.
Hays is known for its vibrant & regional business climate, including demand generators such as the university. And includes other major employers in the medical field (220 bed Hays Medical Center), agribusiness, manufacturing, and energy exploration and production.
The hotel offers several operational alternatives, in that it could be operated as is, or it could be subdivided. That is, the ABVI could be reduced to 60+/- units and the balance of the buildings (back buildings) could be used for monthly rentals, of which there appears to be a demand for such accommodations. Furthermore, the addition of a minimal continental breakfast would increase the competitiveness of the ABVI within its compset.
Hays and Ellis County produce one of the highest "pull factors" in Kansas of 1.51, which means that 50% more trade comes into the county that leaves. Ellis County is the largest oil producing counties in the state and the energy business will continue to be strong. In 2008, Ellis County was ranked second as one of the best places to live in rural America by "Progressive Farmer" magazine. The health of the economy is plainly demonstrated by the unemployment rate for Ellis County, even within the depth of the recession, never exceeded 4.5%, an amazing stat, given the national average of over 9%.
This hotel offers a number of distinct opportunities, including subdivision, reflag, or a combination hotel/rental operation. It is ideal for a owner-operator or a family operation. The Seller's preference is to sell the hotel and retail building together, which will result in the best deal. However, the Seller will consider individual offers.
This ABVI provides an owner operator with a superior opportunity to operate the hotel as is, or to implement a new business plan for a multi-use property. Either way, the owner is ready to put together a deal.