Days Inn & Suites | 1215 Hospitality Ln
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Days Inn & Suites 1215 Hospitality Ln
101 Room Hotel Needles, CA 92363 $5,100,000 ($50,495/Room) 7.39% Cap Rate
Investment Highlights
- Ongoing Renovation & Refresh – Since the owner’s acquisition, over $300,000 has been invested into the property.
- Potential for Operational Improvement – A new operator could improve the current operations by completing the renovations and improving on STR comp.
- Economies of Scale – An operator within the STR Market can scale their existing management network and sales team.
- Strong Brand Recognition – Days Inn & Suites is a wellrecognized and respected brand within the Wyndham Hotels & Resorts portfolio.
- Proximity to Major Demand Drivers – Days Inn & Suites is within close proximity to the Colorado River, along with popular destinations.
- No New Supply in Pipeline
Executive Summary
Ryan Kawai Sanchez, Mitchell Glasson, and Joshua Blinder of Matthews Real Estate Investment Services are pleased to exclusively present the Days Inn & Suites by Wyndham Needles, which offers a significant value-add opportunity in stabilizing the current operations and completing the ongoing renovations to further establish comp set ranking.
The current owner, a first-time hotelier, acquired the property and immediately began renovating it room by room. The renovation currently leaves roughly 60 rooms yet to be completed, hence the 40% discount on local market hotel sales.
As of August 2024, the trailing 12-month RevPAR index ($19.23) ranked 4 of 6 at a 49.6% RGI, and Occupancy (50%) ranked 5 of 6 with a 49.6% MPI index. Any experienced operator should be able to improve revenue with a more diligent marketing strategy, completion of the room renovation, and a well-executed entrepreneurial plan. Based on our financial analyst projections, this property can generate an annual revenue of $1,495,000 at the current comp set RevPAR of $39.40.
The submarket has seen significant transaction volume throughout the past year, with the most recent, Rodeway Inn Needles, trading in May 2024 for $9,800,000 or $84,000 per key. While that property was recently renovated and generated revenue in line with the comp set, it displays the inherent price potential for the Days Inn & Suites, which sits directly across the highway.
The property is currently operated by a full-time manager. This presents an additional opportunity for a local operator to scale costs across their local portfolio or implement an owner-user management structure to increase the bottom line.
This property provides an excellent opportunity to acquire significant upside at a discount to the local price per key sale comps.
Please do not contact the hotel's staff, ownership, or manager to request information or tour the property. Instead, contact the broker to arrange by appointment only.
Broker of Record
David Harrington
License No. 01320460 (CA)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
2321 Rosecrans Ave.,
Suite 1225, El Segundo, CA 90245
The current owner, a first-time hotelier, acquired the property and immediately began renovating it room by room. The renovation currently leaves roughly 60 rooms yet to be completed, hence the 40% discount on local market hotel sales.
As of August 2024, the trailing 12-month RevPAR index ($19.23) ranked 4 of 6 at a 49.6% RGI, and Occupancy (50%) ranked 5 of 6 with a 49.6% MPI index. Any experienced operator should be able to improve revenue with a more diligent marketing strategy, completion of the room renovation, and a well-executed entrepreneurial plan. Based on our financial analyst projections, this property can generate an annual revenue of $1,495,000 at the current comp set RevPAR of $39.40.
The submarket has seen significant transaction volume throughout the past year, with the most recent, Rodeway Inn Needles, trading in May 2024 for $9,800,000 or $84,000 per key. While that property was recently renovated and generated revenue in line with the comp set, it displays the inherent price potential for the Days Inn & Suites, which sits directly across the highway.
The property is currently operated by a full-time manager. This presents an additional opportunity for a local operator to scale costs across their local portfolio or implement an owner-user management structure to increase the bottom line.
This property provides an excellent opportunity to acquire significant upside at a discount to the local price per key sale comps.
Please do not contact the hotel's staff, ownership, or manager to request information or tour the property. Instead, contact the broker to arrange by appointment only.
Broker of Record
David Harrington
License No. 01320460 (CA)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
2321 Rosecrans Ave.,
Suite 1225, El Segundo, CA 90245
Property Facts
| Price | $5,100,000 | Building Size | 36,762 SF |
| Price Per Room | $50,495 | No. Rooms | 101 |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 7.39% | Year Built | 1985 |
| Property Type | Hospitality | Tenancy | Single |
| Property Subtype | Hotel | Corridor | Exterior |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 2.50 AC |
| Price | $5,100,000 |
| Price Per Room | $50,495 |
| Sale Type | Investment |
| Cap Rate | 7.39% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.50 AC |
| Building Size | 36,762 SF |
| No. Rooms | 101 |
| No. Stories | 2 |
| Year Built | 1985 |
| Tenancy | Single |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
Amenities
- Pool
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 4 | $84.00 | - |
| Guest Room | 97 | $71.00 | - |
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PROPERTY TAXES
| Parcel Number | 0185-211-28 | Improvements Assessment | $3,570,000 |
| Land Assessment | $1,020,000 | Total Assessment | $4,590,000 |
PROPERTY TAXES
Parcel Number
0185-211-28
Land Assessment
$1,020,000
Improvements Assessment
$3,570,000
Total Assessment
$4,590,000
zoning
| Zoning Code | C-2 (Commercial) |
| C-2 (Commercial) |
Contacts
-
Ryan Kawai Sanchez -
Joshua Blinder -
Mitchell Glasson -
Matthews Real Estate Investment Services
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Days Inn & Suites | 1215 Hospitality Ln
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