This 6 year old bank owned hotel represents a number of opportunities, from continuing operations as an independent, to rebranding as a franchised hotel, to conversion to efficiency apartments.  The price point is less than 50% of the current replacement costs, for a 6 year old building, and includes a pad site fronting Hwy 61.

Executive Summary

This bank owned Pratt Inn & Suites could be one of the nicest small market independent hotels you have seen.  Built as a Hampton Inn in 2016, the flag was pulled by Hilton during foreclosure, and not re-instated.  Therefore, the property will be delivered without brand affiliation.   In spite of its early difficulties, the property shows as one would expect, with the quality of a newer Hampton Inn.   The hotel is professionally managed and has regained a high standard of guest satisfaction and rating with the online services.  The property can be delivered unencumbered by management.

Pratt is located in south central Kansas, just over one hours drive from the western portion of Wichita, and from the Wichita airport.  Pratt has become a local hub for business and medical services in the area, and has a county population of nearly 10,000.   It is located at the junctions of Hwy 400 (also 54), which is the major east west route through southern Kansas, and Hwy 281 which stretches north-south from Texas to Canada.   Hwy 61 also converges on Pratt.  Pratt also features Pratt Community College which is less than a half mile from the Pratt Inn & Suites.   Nearly 2,000 students attend the community college.  Pratt is also home to the annual Miss Kansas pageant and to the State HQ of the Kansas Wildlife, Parks and Tourism office.

Property Details

Address
1705 Maple Street, Pratt, KS 67530
Price
$3,950,000 
Rooms
80 
Price Per Key
$49,375 
Property Type
Limited Service - independent 
Revenue
Call or Email for CA 
Website
 

Hotel Description

  • Bank owned
  • Built 2016 as a Hampton Inn
  • The parcel includes a pad site in front (total site approximately 3 acres, based on plat)
  • Unencumbered by franchise
  • Rates well on the 3rd party sites
  • Priced at less than $50K per key for a 6 year old asset (less than 50% of replacement)
  • 4 floors
  • Very nice pool and spa area
  • 10′ ceilings first floor  – creates a very spacious feel

Contact a Broker

Brent Jaynes Headshot

Brent Jaynes

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