701 W US Highway 50
Gunnison, CO 81230

Property Overview: The Days Inn & Suites Gunnison is a limited-service economy hotel that is superbly positioned near the interchange of Route 50 and Rio Grande Avenue and boasts strong reviews from major travel agencies with an average rating of 4.4 stars out of 5 based on a composite of four (4) major travel websites (TripAdvisor, Hotels.com, Travelocity, Priceline.com). The Property is well-equipped with numerous amenities that are essential for the modern-day traveler, including free WiFi and breakfast, two hot tubs, a fitness center, a business center, an outdoor picnic area, and self-service laundry facilities and vending machines. Guest rooms average 200 SF and come furnished with a microwave, refrigerator, work desk, sofa bed, and flat-screen television. The current owner recently completed $125,000 of Property capital improvements that include roof repairs, new guest room FF&E, common area, and guest amenities upgrades (hot tubs, business station, and picknick area), a new vending machine and a new 60lb washing machine and laundry system. Per Wyndham, therefore, a new owner can expect a minimal property improvement plan upon transfer of the Property. Location Overview: Gunnison, CO is a city located in Gunnison County approximately 200 miles southwest of Denver, CO. Gunnison is the seat of Gunnison County, and benefits from both its proximity to major tourist destinations and a variety of local businesses and industries that service the Gunnison Valley (Gunnison, Almont, Crested Butte, Gothic). An old cattle and mining town with the most affordable lodging in the valley, Gunnison’s many offerings include fine river and stream fly-fishing, authentic hoedowns, over 750 miles of mountain bike trails, an active arts community, and the largest body of water in the state, Blue Mesa Reservoir. The city also provides easy access to the Black Canyon of the Gunnison National Park. The city of Gunnison has recently approved the 2020 budget and has added the Gunnison-Crested Butte Regional Airport to the list of potential capital improvement projects for the year. The city is expected to spend roughly $1 million on renovations and improvements in 2020 as part of the airport’s $22 million, 10-year master plan that began in 2015. The overall city budget has been set at $107 million and will allocate these funds towards projects related to Gunnison Valley Health, road and bridge repair, transportation, and airport operations to name a few. Significant local demand drivers and recent investments that directly impact the hotel industry include the following: The Gunnison-Crested Butte Regional Airport (0.5 miles from Property) – Annual Passenger Arrivals (2017): 33,028; Provides the hotel with a steady supply of TSA employee that require temporary housing as they complete their mandatory 6-week shifts at the airport throughout the year. The Western Colorado University (2.0 from Property) – Total Enrollment (2020): 3,039; The school received an $80 million donation for the newly formed Paul M Randy School of Computer Science and Engineering that was formed to capitalize on the science, technology, engineering and mathematics industry’s increasing gap between job openings and qualified candidates (3 million in 2016). Notably, the new school will allow students to receive a prestigious University of Colorado degree from Gunnison’s Western campus. A portion of these funds were used to construct a new high-tech 75,000 square foot building with versatile teaching and lab spaces. Construction commenced in September 2019 and is slated to open in 2020. Crested Butte Mountain Resort (28.8 miles from Property) – Purchased by Vail Resorts, Inc.’s (NYSE: MNT) in November 2018, significant capital was invested to replace the Teocalli chairlift, increasing uphill capacity by 50 percent in time for the 2019-2020 ski season. Combined with the addition of Crested Butte to Vail Resort, Inc.’s popular Epic Season Pass, skier traffic to the area should increase significantly moving forward. Opportunity Zone - the Property is perfectly positioned within the Gunnison Opportunity Zone. Opportunity Zones are a new community development program enacted by Congress as part of the 2017 tax reform package (Tax Cuts and Jobs Act) to address uneven economic recovery by encouraging long-term investments in low-income urban and rural communities nationwide. The Opportunity Zones program provides a tax incentive for investors to defer, reduce and potentially eliminate their unrealized capital gains into a Qualified Opportunity Fund dedicated to investing in Opportunity Zones, which are designated by the chief executives of every U.S. state and territory.