Executive Summary
SOLD!!!
The Sayre, Oklahoma AmericInn is located approximately halfway between Oklahoma City, OK and Amarillo, TX near the junction of Highway 283 and Interstate 40. I-40, which runs from North Carolina to California, is the third longest interstate highway in the United States. The property is situated at an active exit with a McDonald’s, Flying J Travel Center and a Denny’s.
The 45 key property was built in 2003 and features a variety of amenities including an indoor pool & spa, on-site bar, business center, truck parking, WiFi and breakfast. The bar, open 5pm-11pm, serves pizza, wings and snacks as well as beer and wine.
Property condition is excellent as evidenced by the 2019 TripAdvisor Certificate of Excellence and the properties favorable reviews across major online booking websites. A change of ownership PIP is available and the absentee ownership group is motivated to sell the property.
This is one of a small percentage of US hotels that actually experienced growth in 2020. The property saw increases in Room Revenue (+12%), Occupancy (+21%) and RevPAR (+11%), all of which contributed to a corresponding increase in the bottom line.
Priced at 2.1x room revenue with an $75 ADR this property represents an opportunity worthy of consideration by owner-operators and remote operators, alike.
