This offering represents an upper mid-market brand at less than $45,000 per key, at a price point to accommodate the expected PIP.  The revenue is rebounding, and YTD 2025 revenue is up by $160K.  At the asking price, it is now offered at 3X the TTM revenue.  This hotel operates significantly below its compset in all three key STR metrics, which certainly indicates post-renovation upside.   Top tier alternatives are also available, such as Spark (Hilton) and Garner (IHG)

Executive Summary

PRICE REDUCTION OF $500K, NOW PRICED AT LESS THAN $45K PER KEY.  RETAIN THE FLAG OR REFLAG WITH HILTON OR IHG.

Leisure Real Estate Advisors, LLC is pleased to feature this 89 key LaQuinta Inn & Suites, for sale.  The hotel is very well located just off Exit 252, Interstate 70, on the north side of Salina.  There are 2 major travel plazas located on the interchange, a Petro Travel Center and a Bosselmen Travel Center.   Both stops, together with I-70, drive considerable walk-in traffic.  The property, in spite of its flag and interstate location, still underperforms the market, and should benefit from the pending PIP.  The southbound I-135 exit is only one mile to the west.

The City of Salina is located in north central Kansas, near the geographic center of the contiguous United States. It is the seventh largest city in Kansas with an estimated population of 50,000. The city is the county seat for Saline County, which has an estimated population of 55,000. The junction of Interstates 70 and 135 on the NW section of Salina are significant factors in transient and business traffic.

Salina enjoys a diverse economy that includes several manufacturing interests both large and small, a strong agricultural economy that supplies local food processors and beverage makers and creates strong demand for industries such as agricultural equipment manufacturing. Kansas has also become a leader in alternative energies, particularly solar and wind.

The Kansas State Aerospace and Technology campus is home to one of only 12 Federal Aviation Administration (FAA) research facilities in the country – is preparing its students for almost any job in the aviation and aeronautics industries with a robust set of programs that include: Unmanned aircraft systems (UAS) flight and operations.  Kansas Wesleyan University is another 4 year private university in Salina.

Notable Demand Generators:

  • Schwan’s Global Supply Chain- Frozen Pizza Manufacturing  (Tony’s Pizza)
  • Excide Technologies- Automotive Battery Manufacturer
  • Phillips Lighting- Lighting Manufacturer
  • Solomon Corporation
  • Great Plains Manufacturing
  • Eldorado National- Bus Manufacturer
  • Crestwood, Inc
  • Tony’s Pizza Events Center (a newly renovated 6,500 seat multipurpose arena and 18,000 sq. ft. convention center)

Click on the “BUYER CA” tab BELOW to complete and submit the electronic Confidentiality Agreement

Property Details

Address
201 E Diamond Drive, Salina, KS 67401
Price
3,975,000 
Rooms
89 
Price Per Key
44,663 
Property Type
Limited service - upper midscale 
Revenue
Call or email for CA 
Website

Hotel Description

  • 89 keys, PRICE REDUCED $500K
  • Built 1999
  • Well priced to sell at less than $45K per key 
  • Top tier alternatives are possible, such as Garner (IHG) and Spark (Hilton)kAN
  • Or, a new 15 year La Quinta license is available, subject to PIP
  • Rebounding revenue (up $160K YTD) and now offered at 3X TTM revenue 
  • Significantly underperforms the market in all three key metrics, indicating post-renovation upside
  • I-70 location and one mile from the junction of I-135
  • 2 major travel plazas at the same exit
  • 3 Floors
  • Indoor Pool
  • Fitness Center
  • Meeting Room

Contact a Broker

Brent Jaynes

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