This 8 year-old FORMER Hampton represents a number of opportunities, from continued operations as an independent, to rebranding as a franchised hotel, to conversion to efficiency apartments.  The price point is less than 40% of the current replacement cost, and includes a pad site fronting Hwy 61.  It can be operated as is, or there are a number of attractive flags available.

 

Executive Summary

The Flag Point Inn & Suites could be one of the nicest small market independent hotels you have seen.  Built as an 80 key Hampton Inn in 2016, the flag was pulled by Hilton for performance issues with a previous owner, and not re-instated.  Therefore, the property will be delivered without brand affiliation.   In spite of its early difficulties, the property shows as one would expect, with the quality of a newer Hampton Inn.   It is located in the most active development area in Pratt and the hotel shows a high level of guest satisfaction and rating with the online services.

Pratt is located in south central Kansas, just over a one-hour drive from the western portion of Wichita, and from the Dwight D. Eisenhower National Airport.  Pratt has become a local hub for business and medical services in the area and has a county population of nearly 10,000.   It is located at the junctions of Hwy 400 (also 54), which is the major east west route through southern Kansas, and Hwy 281, which stretches north-south from Texas to Canada.   Hwy 61 also converges on Pratt.  Pratt also features Pratt Community College which is less than a half mile from the Pratt Inn & Suites.   Nearly 2,000 students attend the community college.  Pratt is also home to the annual Miss Kansas pageant, Pratt Regional Medical Center, and to the State HQ of the Kansas Wildlife, Parks and Tourism office.

Proof of funds and/or a lender reference required for a property tour.

Property Details

Address
1705 Maple St., Pratt, KS 67124
Price
$3,950,000 
Rooms
80 
Price Per Key
$49,375 
Property Type
Limited service - independent 
Revenue
Call or email for CA 
Website

Hotel Description

  • Built 2016 as a Hampton Inn
  • The parcel includes a pad site in front (total site approximately 3 acres, based on plat)
  • Unencumbered by franchise, but Spark (by Hilton), Comfort Inn and LaQuinta flags are available
  • Choice will provide incentives for a Comfort Inn conversion
  • Rates well on the 3rd party sites
  • Priced at less than $50K per key for an 8 year-old asset (less than 40% of today’s replacement)
  • 4 floors
  • Very nice pool and spa area
  • 10′ ceilings first floor – creates a very spacious, upscale feel

Contact a Broker

Brent Jaynes

13000 W 87th St. Pkwy, Suite 108
Lenexa, KS 66215
Phone: 913-499-4731
Fax: 913-499-4771