Price slashed again.  Now Priced at $950,000!  2.0X the 2019 revenue!  No property improvements will be required under a new PIP (per Choice Hotels).  Seller might carry a small 2nd mortgage to help with equity.  With 31 units (30 rentable) and historically attractive revenue, this hotel is idea for an owner operator or an onsite partner.    

 

Executive Summary

NOW PRICED at $950,000!!

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 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, which could be converted into a living quarters.  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.

Property Details

Address
2810 Vine St., Hays, KS 67601
Price
$950,000 
Rooms
31 (30 rentable) 
Price Per Key
$306545 
Property Type
Limited Service - Budget 
Revenue
Call or email for CA 
Website
h  

Hotel Description

  • NEW PRICE – $950,000
  • No improvements will be required under new PIP (per Choice Hotels)
  • Offered at 2.0X of 2019 revenue
  • 31 keys (30 rentable)
  • One of the closest hotels to the Fort Hays State University
  • Demand generators include a 4 yr university (15,000 enrollment), Interstate 70, the Sternberg Museum of Natural History, and Hays Medical Center
  • Original owner – built by one of the most awarded Choice developers
  • Largest city in NW Kansas
  • Large 2nd floor office which can be converted to living quarters
  • Indoor Pool
  • Newer roof
  • Historically consistent revenue producer
  • Seller might carry a small 2nd mortgage to help with equity.

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