Platinum Award winner. Built in 2008. Well priced at 2.6X room revenue with attractive revenue and great cash flow. Great reviews and a very nice property. Professionally managed for its investment group, but perfect for owner operator. Plenty of cash flow for passive investor or to add to a portfolio.

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.

Property Details

Address
1807 Harding Drive, Parsons, KS 67357
Price
$2,400,000 
Rooms
50 
Price Per Key
$48,000 
Property Type
Limited Service - Highway 
Revenue
Call or email for CA 
Website
 

Hotel Description

  • Choice Hotels Platinum Award winner (2017)
  • Well priced at 2.6X 2017 room revenue
  • Ample cash flow/net operating income
  • Built in 2008, to Sleep Inn specs
  • Offered well below replacement costs
  • Smoke free
  • 2 floors, interior corridor, with elevator
  • Rates 4.5 on TripAdvisor, 4.6 (Exceptional) on the Choice site
  • Spa King suites with shower
  • Indoor pool that features spa
  • Flat screen HD TV’s
  • Guest laundry
  • Ample parking/ truck parking

Contact a Broker

Brent Jaynes Headshot

Brent Jaynes

8725 Rosehill Road, Suite 300
Lenexa, KS 66215
Phone: 913-499-4731
Fax: 913-499-4771