Executive Summary
SOLD!!
PRICE REDUCED AGAIN – SELLER WANTS TO MAKE A DEAL!!
Revenue Stabilizing – September & October 2020 revenue showing increases over 2019!
Although the owner’s have nearly $4,000,000 in construction & opening costs, they have priced the hotel at less than half the replacement cost, at less than $29,000 per key, in order to sell and retire. This is last hotel in their local portfolio.
This Days Inn offers a great location and visibility right off of Interstate 70 and includes 58 modern guest rooms. This is not a typical Days Inn in that it offers finishes and features not typically found in most Days Inns. It has achieved the Chairman’s Award from Wyndham (highest award) and has been awarded the TripAdvisor Certificate of Excellence from 2015 – 2020!
Ellis County produce one of the highest “pull factors” in Kansas,(1.51), which means that 50% more trade comes into the county that leaves. Ellis County is the largest energy producing counties in the state and the energy business will continue to be strong. In 2008, Ellis County was ranked second as one of the best places to live in rural America by “Progressive Farmer” magazine. The health of the economy is plainly demonstrated by the unemployment rate for Ellis County, even within the depth of the Great Recession, never exceeded 4.5%, an amazing stat, given the national average of over 9%.
The county includes four cities, the largest being the county seat of Hays with an approximate population of 20,000, which is only 11 miles east on I-70.
The size of the hotel lends itself to being ideal for an owner- operator. Plus we do not anticipate any major expenses as a result of a PIP. If the slower pace of the small town and a very nice hotel are attractive to you, please give us a call.
