The Merriam-Webster dictionary defines the term “Home Run” as 1) a “4 base hit” in baseball or 2) an “impressive success”.  Definition #2 certainly applies to this offering.  This newer Formula Blue Express was built on arguably the best site in town, at additional expense and it has paid off.  This offering provides outstanding revenue and high cash flow, together with CID reimbursements of nearly 2% per year, above and beyond the hotel revenue.    In the sale of hotels, sometimes the cash flow does not justify the price………it does in this case.

Executive Summary

This 78 key Formula Blue Express & Suites is built on the site of a former retail building, in order to achieve direct site lines and access to 10th street (Hwy 56).  The hotel was built and opened in 2016, and has steadily ramped to its current performance.   It features the latest Formula Blue designs and therefore very little immediate PIP is anticipated.   The property features 18 suites and meeting space.   It is highly rated on the online travel sites and averages a 4.5 rating on those sites including TripAdvisor.

Great Bend would be considered a mid sized rural market in west-central Kansas, with a population of approximately 16,000.    The city is located at the confluence of four busy highways, that is, Hwys 156, 56, 281 and 96.  The economic “pull area” surrounding Great Bend and Barton County County, includes over 50,000 people.  The region has historically been known for energy, agriculture, manufacturing and medical services.   A number of major employers call Great Bend home, including Barton County Community College, Sunflower Electric, Great Bend Regional Hospital, CUNA Mutual and Fuller Brush Industries.   Currently unemployment in Barton County is less than 3% which would be considered full employment.

There are a number of local demand generators in the area, many related to the outdoors. Great Bend is known as the Gateway to the Cheyenne Bottoms, which is the largest interior wetland marshes in the country. It covers over 41,000 acres and 45% of the nation’s migratory shorebirds pass through the “Bottoms”, via the Central Flyway, from Canada to Mexico. This collection of waterfowl and shorebirds attracts birdwatchers from all over the world. It is not unusual for the Bottoms to be closed for a few days during the Fall as Whooping Cranes make their way south on their migration. Moreover, it is a migratory stop for hundreds of thousands of ducks and geese, which also attract hunters from all over the country.

If you are looking for a newer hotel investment with a great flag and with immediate cash flow, then this property should get your close review.

 

 

Property Details

Address
3821 W. 10th St, Great Bend, KS 67530
Price
$9,600,000 
Rooms
78 
Price Per Key
$123,076 
Property Type
Highway - limited service 
Revenue
Call for CA 
Website
 

Hotel Description

  • Built 2016
  • 78 keys
  • Formula Blue throughout
  • 18 suites
  • Indoor pool
  • Non smoking
  • High ADR
  • Meeting space/board room
  • Great location
  • CID reimbursements (Community Improvement District)

Contact a Broker

Brent Jaynes Headshot

Brent Jaynes

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

Dave Jones

KS
Phone: 913-499-4725