This re-priced 80 key Courtyard is being offered as a portfolio with the adjacent Hilton Garden Inn.  The Courtyard ranks second in the compset (HGI #1), and creates a tandem of premium brands hotels nearly adjacent to each other.    Attractive top-line revenue and net income is available, unencumbered by management.  Individual offers considered, but portfolio sale preferred.

Executive Summary

Since 2005, this Marriott Courtyard has been a consistent leader in the Salina hotel Market. This is a unique opportunity to get into one of this market’s highest performance hotels, at below replacement cost. This hotel offers an ideal location just off Highway I-135, a major north-south thoroughfare that connects the center of Kansas to I-70 serving as the industrial, medical, retail, trade and service hub for north central Kansas. The hotel has easy access to many shops and restaurants as well as the Salina Municipal Airport providing service west to Denver International Airport. Wichita, Kansas and Kansas City, Kansas are 95 and 175 miles away, respectively.
The City of Salina is located in north central Kansas, near the geographic center of the contiguous United States. It is the seventh largest city in Kansas with an estimated population of 50,000. The city is the county seat for Saline County, which has an estimated population of 55,000. The junction of Interstates 70 and 135 on the NW section of Salina are significant factors in transient and business traffic.

Salina enjoys a diverse economy that includes several manufacturing interests both large and small, a strong agricultural economy that supplies local food processors and beverage makers and creates strong demand for industries such as agricultural equipment manufacturing. Kansas is also poised to become a leader in alternative energies, particularly solar and wind.
Kansas State Polytechnic is home to one of only 12 Federal Aviation Administration (FAA) research facilities in the country – is preparing its students for almost any job in the aviation and aeronautics industries with a robust set of programs that include: Unmanned aircraft systems (UAS) flight and operations.

The Bistro is the food and beverage destination for refreshing breakfast choices in the morning, and a variety of dinner, beer and wine options in the evening. The Bistro also offers specialty beverages made with Starbucks® coffee to help you get a jump on the day. Or, enjoy a local craft beer in the evening. The hotel also features a business center, fitness center and an indoor heated pool along with a 24 hour snack and sundry Market.

This perennial performer is being offered as a portfolio with another premium branded select service hotel in Salina, the newer Hilton Garden Inn. Individual offers will be considered, but preference will be given to a portfolio sale

Property Details

Address
3020 Riffel Drive, Salina, KS 67401
Price
$8,900,000 
Rooms
80 
Price Per Key
111,250 
Property Type
Upper mid-scale select service 
Revenue
Call or email for CA 
Website
 

Hotel Description

• NEW PRICE, 80 keys
• Strong performance and cash flow
• 77% occupancy, $114 ADR (T-12 mos, Nov 2019)
• One of the market leaders, along with the Hilton Garden Inn.
• #2 in RevPAR, ADR and occupancy indices, behind HGI – (Nov 2019)
• On-site Bistro Restaurant that serves breakfast and dinner
• Offered below replacement costs
• Close to several shopping areas and Salina Municipal Airport
Offered as part of a 2 property portfolio, which includes nearby newer Hilton Garden Inn. Individual offers considered, but portfolio sale preferred

Contact a Broker

Brent Jaynes Headshot

Brent Jaynes

8725 Rosehill Road, Suite 300
Lenexa, KS 66215
Phone: 913-499-4731
Fax: 913-499-4771