Executive Summary
SOLD!!!!
NEW PRICE – STR compset shows significant upside potential in occupancy, ADR and RevPar
- Foreclosed – Lender owned
- 95 keys
- US Hwy 50 with increasing traffic counts
- Opportunity Zone
- Across the street from a new LOVE’s Travel Plaza
- 2 stories
- 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
- National JuCo basketball tournament
- Annual KS State Fair
Notable area businesses are:
- Hutchinson Regional Healthcare
- Dillons
- Tyson
- Siemens Wind Power
- Lowen Corporation
- Collins Bus Corporation
