Executive Summary
SOLD!!!
A NEW PRICE plus YTD revenue now exceeds same period 2019 by $30K!!!! Now priced at less than 2x 2019 revenue. Minimal PIP.
This one owner hotel was built by one of the most decorated and recognized developers in the Choice system, and his family has owned it since it was built. With 31 units (30 rentable) and attractive revenue, this hotel is ideal for an owner operator or an onsite partner. There is a large office space on the second floor and could be converted into a suite for additional revenue. The hotel has historically produced very nice top line revenue and has steadily withstood the new competition on the interstate (I-70).
With a population of over 21,000, Hays is the largest city in NW Kansas. Hays and Ellis County, KS, have historically been a very attractive hospitality venues, being half way between KC and Denver on I-70. However, with numerous demand generators, including university, medical, sports and energy, Hays is a hub for regional business. Ellis County has one of the highest “Pull Factors” in the state, nearing 1.5, which means that 50% more trade comes into the county than leaves. Ellis County continually boasts low unemployment, (a key business strength indicator) even through the 2008 recession. Currently, even with the impact of Covid, unemployment stands at about 4%.
Fort Hays State University (nearly 13,000 students) has been a long time contributor to the local economy, not only from the event standpoint, but also from the many businesses that support the university.
