With 27 keys, this offering is ideal for an owner operator or family operation. It is a simple operation with no pool, and very little common area. The Herington Inn & Suites represents one of few hotels in this area of central KS. Offered at $700K and less than $26K per key, it represents one of the lowest priced hotels we have listed in a long time and provides a price point that can appeal to a wide range of investors. If the rural lifestyle and small town charm are interesting to you, and at less than 3x room revenue, so should this offering.
With 27 keys, this hotel is ideal for an owner operator or onsite partner. It is unusual to find interior corridor hotels offered for sale at under $26K per key, especially if it was built in 2004. The hotel features king and queen beds, keyless entry, whirlpool suites, flatscreen TVs, and a suite with a living area and separate sleeping room. Herington, Ks, located at the junction of Hwys 4, 56 and 77 in central KS, is a rural community of about 2600, located 30 minutes south of Junction City (Fort Riley) and I-70. Salina, KS (pop. 60,000) is a 1 hour drive to the northwest and Manhattan KS (KS State University) is 45 minutes northeast. (Herington is a hub for the Union Pacific Railroad Corporation and several other key employers, such as the Herington Hospital. The Herington Inn was built by a number of local civic minded investors, none of which has hotel experience, in order to provide the community with a nice lodging facility.