This 81 key Express & Suites will be delivered with a completed Formula Blue PIP and at less than replacement cost. It will also offer a new license agreement until Sept, 2033. The property upgrades also include new guest room windows and exterior paint. Besides the foregoing, the offering features attractive cash flow and should require minimal investment for the next 10 years. It has been our experience that Formula Blue renovations do add value to the hotel, in the form of ability of manage rates better, higher guest satisfaction, and increased ability to compete against new competition. Furthermore, the hassle of a major PIP and all of the issues associated with the PIP will be finished.
This highly rated and profitable Holiday Inn Express & Suites Lincoln Airport is an original one owner property located at the airport exit in NW Lincoln. The 81 unit hotel is being brought to market while in the final stages of a Formula Blue PIP, and will be delivered with the PIP completed. The anticipated completion of the PIP is around Sept. 1st. The Lincoln airport is served by Delta Airline and United Express. I-80 is one of the few intercontinental interstates and it stretches from San Francisco to New Jersey, and carries a significant amount of commercial and transient traffic.
Lincoln, NE, with nearly 300,000 residents, is a southeast commercial hub in Nebraska. It is home to the University of Nebraska, a member of the Big 10 conference. With a student population in excess of 26,000, it is a major demand generator and brand for the area. The university is located near downtown Lincoln, which is also home to the State Capitol. These two major employers drive a significant amount of business for the hospitality industry. Lincoln has received a number of “Top Livable Cities” designations from numerous sources, such as Liveability, NerdWallet, Forbes and others.
With the completion of the PIP, the new owner should be able to operate this hotel with minimal investment for the next 10 years or so, (not including soft goods) Therefore, one would expect the improvements to allow a more aggressive stance on rates and should pave the way for increased revenue. Furthermore, a new license agreement will be offered until Sept, 2033. It is difficult to find a 11 year old Express, totally PIP’d for under replacement costs, especially in a airport market within a metro area featuring a major university and the State Capitol.
The photos shown herein are post renovation, but are limited. Additional post renovation photos will be added as the PIP is completed.