Located in the capital city of Missouri, the Jefferson City Quality Inn & Suites represents a compelling opportunity for hospitality investors. The well cared for 70-key property was built in 1995 and is located off of, and visible from, Highway 54.
The property offers a variety of suite types including suites with a whirlpool and suites with a wet bar. Guest rooms feature refrigerators, microwaves, 40-inch flat panel televisions, WiFi and a separate sitting area with a sleeper sofa. Additionally, the property has an indoor pool & spa, complimentary hot breakfast, fitness center, business center and a large meeting room that is well suited for a variety of meeting types.
Current ownership has made many recent improvements to the property. They include hallway carpet, draperies, paint and knockdown stucco in guestrooms and hallways, HVAC units, LED lights and fixtures (interior & exterior), exterior paint, new security camera system, new key card system, renovated pool area and a new hot water heater.
The market is rich with demand generators most of which center around State government. As the state capital Jefferson City is home to the State Capitol building, Missouri Supreme Court, Attorney General’s Office, Secretary of State Office and the Truman state office building, among many others. Collectively the state government employs almost 15,000. The City is also home to Lincoln University which boasts enrollment of over 1,700.
The market is rebounding nicely from the pandemic. In fact, the May YTD hotel revenue for Jefferson City was the highest since lodging tax collection reporting began in 2011…up 8% over the same period in 2019.
The property is also moving toward pre-covid 2019 performance levels when the property revenue exceeded $1.2m with a 60% occupancy and $85 ADR.
This investment opportunity is well suited for on-site operators and remote operators, alike. If you have questions or would like to discuss, please call or email.