SOLD!!!

$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.

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

Property Details

Address
11 Des Moines Ave, South Hutchinson, KS 67505
Price
$1,650,000 
Rooms
95 
Price Per Key
$17,368 
Property Type
Limited Service - Highway 
Revenue
Call for details 
Website
 

Hotel Description

  • NEW PRICE!!  STR compset shows considerable upside potential in occupancy, ADR and RevPar
  • Opportunity Zone
  • REO asset
  • Several flags available, including Quality Inn or Surestay or operate as independent
  • Large parcel and ample parking, including truck parking
  • An abundance of usable space, including former restaurant and meeting room
  • Steady revenue history, until recent flag difficulties
  • Interior corridor
  • Indoor pool
  • Growing interchange on Hwy 50, across the street from a new LOVE’s travel plaza
  • No extended stay facility in the market – possible conversion to monthly apartments or extended stay

Contact a Broker

Brent Jaynes Headshot

Brent Jaynes

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