Executive Summary
This Comfort Inn & Suites was built in response to the natural gas & oil exploration boom in 2007 & 2008. Unfortunately, when natural gas prices fell, the boom was over for the most part, resulting in a number of distressed hotels and other real estate. Located on I-70, its location and visibility are very good. The current owner continues to operate the hotel in a fashion that still results in 4 star review on TripAdvisor. The hotel offers a pleasing curb appeal, with a large portico and stone accents. The property is about half way between Glenwood Springs and Grand Junction and is a gateway to the alpine vistas of the White River National forest and the Elk Mountain and Collegiate ranges to the east.
This hotel can be purchased at a steep discount over replacement costs, and could contain considerable upside if the energy boom were to return. However, any offer approved by the Seller must also be approved by the Lender and could take time. Even at a 50% discount, this is a very nice & well kept hotel, and could prove to have significant updside, depending on the future energy business and the skill of the operator. We all know that energy will always be in demand and the low price per key could very well lead to future profit during an energy recovery.
