$200K PRICE REDUCTION – BANK OWNED. STR compset shows substantial upside potential in occupancy, ADR and RevPar. Now offered at less than $18K per key. Historically this property has been a steady revenue producer, but fell victim to flag changes and inability to perform on the PIP requirements. The hotel currently operates at nearly 50% below its compset in occupancy and RevPar. Quality Inn and Surestay PIPs available, if up-flag is desired. There are no extended stay hotels in the area nor are there monthly rental efficiencies. Opportunity Zone designation.
NEW PRICE – STR compset shows significant upside potential in occupancy, ADR and RevPar
Foreclosed – Lender owned
US Hwy 50 with increasing traffic counts
Across the street from a new LOVE’s Travel Plaza
Indoor atrium pool
3.4 acre site, with ample truck parking
Surestay and Quality Inn PIPs available
Property operates less than 50% of its compset in occupancy and RevPar
Extended stay or monthly rental conversion – there are no extended stay hotels in the market
The hotel was originally built as a full service hotel, with restaurant-bar and a small meeting room. Those have been closed for a period of years, based on the limited service nature of the recent flags. However, these areas do offer additional space or could be refitted for lease. There appears to be a need, locally, for a solid F&B operator.
Hutchinson has historically been a strong hospitality town, and it appears that with the right re-flag, renovation, and re-position, this property could reclaim its position in the compset. The following are examples of the attractions that create demand:
Cosmophere – one of the most complete space museums in the country
Strataca – formerly the Underground Salt Museum, Carey Salt