Executive Summary
This 80 key hotel is located in one of the higher growth areas in the St. Louis MSA. The surrounding interchanges have experienced substantial new development, including a new 144 bed hospital, St. Elizabeth’s, and Memorial Hospital is building a 94 bed facility in O’Fallon. BJC Healthcare has also purchased 111 acres nearby. Hospitals don’t build unless there is growth in the area. The Holiday Inn Express is located within a high traffic Target shopping center with direct I-64 visibility. It is a very good performer with a mix of corporate and transient travel, and shows a very attractive net income. It is an “Inn & Suites” prototype and therefore features a variety of suite type rooms, for the upgraded corporate traveler.
Only 17 miles from downtown St. Louis with demand generators such as the St. Louis Arch, St. Louis Zoo, City Museum, Busch Stadium (home of the St. Louis Cardinals), Science Center and an endless list of entertainment options, St. Louis is a top 20 MSA based on population and O’Fallon is benefiting as a growing suburban market. The property is near the GCS Stadium, the Grizzlies Minor League Baseball Park.
With increasing revenue and an outstanding net income, this hotel represents a very fine investment. Its interstate location, surrounding growth and proximity to downtown St. Louis are all very positive location attributes. The Express is being offered with the nearby Candlewood Suites as a 2 property portfolio,but individual offers are also encouraged.
