Hawthorn Suites by Wyndham - Overland Park, KS

Hotel offerings in Overland Park, KS are rare occurrences and this strong performer brings plenty of cash flow to the table. Furthermore, it is priced significantly below replacement costs. Its location is near a major metro interstate (125,000 cars/day), Overland Park Regional Hospital and over 3 million square of Class A office space. It is located on a great business corridor and a new owner should experience immediate cash flow.

Property Details

Address 11400 College Blvd., Overland Park KS 66210 (view map)
Price $14,900,000
Rooms 215
Price Per Key $68,981
Property Type Extended Stay
Revenue Call or Email for CA

Executive Summary

*PRINCIPLES ONLY*   The Hawthorn Suites by Wyndham was originally built as a Holtze Executive Village at a reported original cost of 19 million.  The hotel is located in the Kansas City metro suburb of Overland Park, KS, the 2nd largest city in Kansas.  Overland Park is well known for its liveability, as reflected by securing a number recognitions as one of the highest ranking "Best Places" for lifestyle and for business.   These accolades have come from a variety of sources, such WalletHub, Niche, Money Magazine, Forbes, Living.com and Smartasset.com.

The Hawthorn features 215 keys, 108 of which offer kitchenettes.  The property is configured with 9 buildings, however, unlike the older extended stay hotels, each building features its own elevator, making access from parking to room quite convenient.  While the hotel is primarily an extended stay business model, its room mix also allows for the nightly guest.   It features studio, one bedroom and two bedroom suites, along with the traditional hotel room, each with a sitting area.  The lobby building features a fireplace ascending to an impressive vaulted ceiling, that also transitions into a great room, where guests can relax or enjoy a continental breakfast in the morning.

The Hawthorn Suites is well positioned within one of the leading business corridors in Overland Park and the Midwest.......College Boulevard.   The property is near the I-435 & Quivira interchange (the circumferential interstate for the metro area), and Overland Park Regional Medical Center.  Many other notable companies are nearby, including Ashgrove Cement, and Farmers Insurance Group Regional office. Corporate Woods (institutionally owned 2 million sq. ft. of Class A office buildings) is only minutes away.   Johnson County Community College, with a full and part time enrollment of over 30,000 students, is a quarter mile away.   A number of world headquarters are located on the College Blvd corridor.

This property is performing well and could be operated profitably as it is, with minor improvement.  Or, the property could be upgraded to a higher level of finish to increase occupancy and ADR.  Either way, the property  currently produces well over $1.2M in cash flow and is certainly priced 25 to 30% below today's replacement costs.  

 

 

Contact an Associate

Brent Jaynes, Managing Partner Brent Jaynes, Managing Partner
913-499-4731 (office)
Send an Email
Dave Jones, Principle Dave Jones, Principle
913-499-4725 (office)
Send an Email

Hotel Description

  • Great revenue and attractive cash flow
  • Near major interstate and 3 million sq. ft. of Class office space
  • 215 keys, including 108 suites, and a Presidential apartment suite
  • Studio, one and two bedroom suites, half with kitchenettes
  • Apartment complex "feel" to the property
  • Elevators in each building
  • Spacious lobby/great room with vaulted ceilings
  • Granite vanities and kitchen surfaces
  • Flat screen TVs
  • Many units with walk-in closets
  • Nearly 68% occupancy, past 12 months, but still below the compset average at over 71%
  • Large central courtyard with outdoor pool and hot tub.
  • Attractive brick and dryvit exterior finish
  • Business center
  • Guest laundry
  • Fitness room