If you can find a newer HIEX offered at less than 3X revenue, please show it too, because I haven’t seen one. Built in 2009, this newer Express presents a great revenue producer, 2 years left on RE tax abatement, & features attractive net income.

Executive Summary

The Holiday Inn Express brand is one of the favored upper mid-market brands for hotel owners and investors. This one features the “suites” prototype, and it produces attractive revenue and net income. With 2 years of real estate tax abatement remaining, the leasehold interest converts to fee simple in the same 2 years. The hotel has experienced very attractive year-to-year increases over the last 3 years. Built in 2009, the hotel features high guest satisfaction and is highly rated on Trip Advisor.

The Express is located near the US Hwy 69 By-Pass, which is the main route from KC to I-44 in Oklahoma, which then extends to Joplin, Springfield, Tulsa and OKC.  Moreover, Pittsburg, KS is a medium size town of 21,000 residents and is a very good business town, fueled in part by Pitt State University with approximately 7,100 students and over 1000 employees.  Besides the students, the university also attracts a number of regional events, including conferences, high school athletics, and meetings related to the various Colleges within Pitt State.  Although it is being offered at a below market price, (based on the revenue), due to the extent of the PIP requirements the Owner is prepared to negotiate in order to get a deal done.  The adjacent Comfort Inn & Suites is also being offered for sale.

Property Details

4011 N. Parkview Drive, Pittsburg, KS 66762
Price Per Key
Property Type
Upper midmarket - limited service 
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Hotel Description

  • 17 assorted suites with microwave & mini-fridge, some with spa tubs and wet areas
  • Built 2009
  • 42″ flat screen TVs in suites
  • 3 floors with appealing brick accents
  • Includes overflow parking lot
  • Great visibility, near new retail
  • Indoor pool & spa, fitness center
  • Large meeting room
  • Guest laundry
  • Wired and wireless HSIA
  • Leasehold interest converting to fee simple
  • 1.5 years remaining on RE tax abatement

Contact a Broker

Brent Jaynes

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