Holiday Inn Express Hotel & Suites - Hutchinson, KS

Executive Summary

The franchise agreement on this Express will expire May 31, 2013.  Therefore, this offering represents a re-flag opportunity in a strong market.  The Best Western system is available as well as a number of other flags.  Given the market strength, a new owner may want to consider an independent banner.  The hotel has be one of the top revenue performers in Kansas and is currently listed a 2X annual room revenue.  The ownership group has spent $400K in improvements in the past 3 years, including new TV cabinets & LCD TV’s (2011), new carpet throughout (2009), new soft seating (2010), new mattress sets (2010), new thermal window panes & screens (2009) and a new roof (2012),  Surrounded by companies like Dillon’s Stores Corporate Office, Tyson and Cargill Salt, the hotel benefits from those corporate demand generators as well as attractions such as the Kansas Cosmosphere, the Kansas State Fair, the Kansas Salt Museum, and the National Junior College Association national basketball tournament.

The property shows well and could be operated as an independent, although there are many choices for a flag.