Executive Summary
This Platinum Award hotel ranks among the highest Rodeway properties in the Choice Hotels system. It is located in southeast KS near the junction of Hwy 400 and KS 59. 400 is the main east-west highway across southern KS connecting Joplin to Wichita and points west. If the design of the hotel looks familiar, it is because it built to Sleep Inn standards when it opened. To lower the franchise cost structure and to better align the hotel with the customer profile, the Rodeway flag was implemented in 2012. The property has enjoyed very attractive room revenue and supports a healthy cash flow. It is offered at $50K per key which is unusual for a 10-year-old property. It also features an elevator which is not common for a smaller property in a small market.
Parson’s is a medium sized town of 10,500 and features a number of major employers, including employers in the health care sector (Labette Health and Parsons State Hospital). Both hospitals employ over 450 people each. There are a number of local companies that do business internationally, including Columbia Tec Tank (Owned by CSI Global) and Tank Connection. Labette Community College is a two-year junior college with nearly 2000 part and full-time students. LCC employs nearly 250 and tends to be a significant demand generator for local hotels.
This property produces enough revenue and net income to be purchased as a passive investment or by an onsite owner operator.
Either way, you will find a property that generates attractive revenue and great reviews. When you visit, we are certain you will be pleasantly surprised.
