The Bluemont Hotel, an upscale boutique hotel, has been the perennial #1 rated hotel in the Manhattan, KS market since it was built in 2014.  In addition, it produces very attractive revenue and RevPar without the burden of a franchise.  It boasts 10% per year RevPar increases for the past 3 years.  Its “Main at Main” location, directly across the street from Kansas State University and Aggieville, would be very difficult to duplicate and its location is a significant contributor to its performance.  Today, this hotel could very well cost over $200K per key to replace.

Executive Summary

The Bluemont Hotel is known as the premier hotel in Manhattan.  It is an upscale, 112 key boutique hotel built on the architectural theme found on the many of the buildings of Kansas State University.   Its location, in the heart of Manhattan, is one of those “Main at Main” locations, that was difficult to develop and is nearly impossible to replace.  The Bluemont is just steps from the east campus, and it produces attractive revenue without the burden of a franchise.

  • 112 keys
  • Opened 2014……..Upper scale boutique hotel, with university theme
  • Upscale limestone finishes are utilized throughout the hotel, which are the finishes found on many campus buildings
  • Rates #1 hotel in Manhattan on TripAdvisor and most other travel sites
  • 55 suites of various types, some 15’3” room width
  • A “Main at Main” central city location directly across from Kansas State University
  • 5 floors
  • On-site themed lounge plus a leased Goolsby’s, featuring an original bar, grill and entertainment experience.  
  • 4 event rooms that accommodate groups up to 250
  • Indoor heated pool and a fitness center
  • 100% Smoke free
  • Onsite multilevel parking garage

Manhattan is the principal city of the Manhattan Metro Area with an estimated population of 98,000. It is also the principal city of the Manhattan-Junction City, Kansas Combined Statistical Area with an estimated population of 134,804, making it the fourth largest urban area in Kansas. According to stats published by 24/7wallst.com, Manhattan is one of the fastest growing cities in the Midwest.  Kansas State University is directly across the street from the Bluemont Hotel. Manhattan is located 2 hours from the metro Kansas City area and is known for Kansas State University, featuring nearly 30,000 undergrads and graduate students, faculty and staff. Manhattan rates high in “liveablity” and business climate in many publications and online services, such as movoto.com, Liveability.com, Forbes, and CNNMoney.com. Liveability.com rated Manhattan as the Number 2 “Best Place to Live in the US”. Princeton Review rated K-State as “One of America’s Best Colleges”.

As one would expect, the university is a major demand generator for the area. However, Manhattan also features a great mix of business, science/research, health care and military demand. Fort Riley is a large military installation only 15 miles from Manhattan and is another contributor of business, both directly and in association with all of the businesses supporting the base. It boasts an annual economic impact of over $1.9 billion annually to the regional economy. Besides the monetary impact, Ft. Riley contributes nearly 62,000 solders, staff, retirees, and civilian staff to the region’s population.

One of the largest developments ever to occur in State of Kansas, was the Department of Homeland Security’s selection of Kansas State University as home to the National Bio & Agro-Defense Facility (NBAF). This $1.2 billion dollar, 700,000 sq. ft facility was completed this year and has brought a significant impact to the area, including high paying technical jobs and the attraction of a number of support businesses to the area. It is located near the KSU’s Biosecurity Research Institute. The following links provide more information for all three institutions, NBAF, Fort Riley and Kansas State:

• https://greatermanhattan.org/national-bio-and-agro-defense-facility-nbaf
• https://www.usda.gov/nbaf
• https://home.army.mil/riley/index.php
• https://www.k-state.edu/

Property Details

Address
1212 Bluemont Avenue, Manhattan, KS 66502
Price
$17,900,000 
Rooms
112 
Price Per Key
159,821 
Property Type
Limited service - upscale boutique hotel 
Revenue
Call or email for CA 
Website

Hotel Description

  • Unencumbered by franchise, and associated costs
  • Attractive top line revenue & net operating income
  • 10% per year increase in RevPar, last 3 years
  • T-12 Occupancy over 66%, an ADR of nearly $138, and a RevPar of over $94 (Feb 2024)
  • Great high traffic location, with easy access to entire metro area and attractions
  • Located directly across the street from Kansas State University 
  • Located directly across the street from Aggieville, the local hub for retail and restaurants
  • Fort Riley (16 miles away) over $1.9 billion in local impact, annually
  • Kansas State University – nearly 30,000 faculty, staff and students with annual impact of $300 million
  • Near to the National Bio & Agro Defense campus, a local $1.25 billion Homeland Security bio-containment research laboratory
  • Mid-town, “main at main” location near Manhattan Christian College, Kansas State University, Bill Snyder Family Stadium, Aggieville, and Manhattan Surgical Hospital
  • Leased original bar/grill/entertainment concept (Goolsby’s) and includes partial ownership (2%).
  • Offered significantly below replacement costs.         

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Contact a Broker

Brent Jaynes

13000 W 87th St. Pkwy, Suite 108
Lenexa, KS 66215
Phone: 913-499-4731
Fax: 913-499-4771