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Hotel-Motel

Baymont by Wyndham Fort Morgan

14378 US-34, Fort Morgan, CO 80701

Listing Price: $5,500,000

Cap Rate
4.59%
Number of Rooms
100
RevPAR
$29
Price/Room
$55,000
Year Built
1971

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Baymont Fort Morgan a 100-room, interior corridor hotel located at 14378 US-34, Fort Morgan, CO 80701 (‘Hotel’ or ‘Property’). The Hotel is offered at $5,500,000 ($55,000 per key). The Hotel is conveniently located just off Interstate 76 and within a one hour drive of both the Denver-Aurora-Lakewood MSA and Fort Collins MSA. The Property is a limited-service, Wyndham-branded hotel with approximately 58,562 square feet across three floors and features amenities that include an indoor pool, a business center, fitness center, laundry facilities, and 2,800 square feet of meeting and event space. The City of Fort Morgan is the county seat of Morgan County and a commercial, industrial and recreational hub for Northeast Colorado. The City is home to a diverse set of industries such as Agriculture, Food Services, Oil & Gas, Manufacturing, Construction, Healthcare and Education, all of which generate demand for Hotel rooms. The City’s largest employers include the Cargill meat-packing plant, Leprino Foods cheese factory, Dairy Farmer of America milk processing facility, Viaero Wireless, Colorado Plains Medical Center, and Smirks, one of the largest processors of seeds in the world. The City of Fort Morgan also manages its numerous parks and open spaces as well as the Fieldhouse Recreation Center, a 40,000 square community center that was constructed in 2021 and will host various future sports and community events. Leisure demand drivers include the Jackson Lake State Park, Sherman Street National Historic District, Pawnee Pioneer Trail Scenic and Historic Byway, and Quail Dunes Golf Course. Entertainment demand drivers include the Fort Morgan Museum, Hall Event Center, Longmeadow Game Resort Clays Club, and Sweeney Cycle Park. The Hotel further benefits from overnight room demand initiated by Morgan Community College. Prior to COVID-19 (2019), the Hotel generated approximately $1.755 million of room revenue and $716.9 thousand of net operating income. Due to COVID-19’s impact on business-related travel, the Hotel generated approximately $1.05 million of room revenue and $252.6 thousand of net operating income in 2021; however, hotel demand from business travelers has returned to the market, presenting an opportunity for a new investor to acquire this hotel at an excellent basis and capitalize on revenue growth as Property performance continues to return to pre-pandemic levels.

Investment Highlights

  • Three-Story, 100-Room, Wyndham-Branded Hotel
  • Priced Below Replacement Cost at $55,000 per Key
  • Easily Accessible and Highly Visible from Interstate 76, the Busiest Thoroughfare Connecting Fort Morgan to Denver
  • Opportunity to Increase RevPAR to Pre-Pandemic Levels through Operational Incentives and Aggressive Revenue Management Strategies
  • 20 of the Guest Rooms are Suites with Kitchenettes

Exclusively Listed By

Financing By

Hotel-Motel

Baymont by Wyndham Fort Morgan

Listing Price: $5,500,000

Cap Rate
4.59%
Number of Rooms
100
RevPAR
$29
Price/Room
$55,000
Year Built
1971

Investment Highlights

  • Three-Story, 100-Room, Wyndham-Branded Hotel
  • Priced Below Replacement Cost at $55,000 per Key
  • Easily Accessible and Highly Visible from Interstate 76, the Busiest Thoroughfare Connecting Fort Morgan to Denver
  • Opportunity to Increase RevPAR to Pre-Pandemic Levels through Operational Incentives and Aggressive Revenue Management Strategies
  • 20 of the Guest Rooms are Suites with Kitchenettes

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Baymont Fort Morgan a 100-room, interior corridor hotel located at 14378 US-34, Fort Morgan, CO 80701 (‘Hotel’ or ‘Property’). The Hotel is offered at $5,500,000 ($55,000 per key). The Hotel is conveniently located just off Interstate 76 and within a one hour drive of both the Denver-Aurora-Lakewood MSA and Fort Collins MSA. The Property is a limited-service, Wyndham-branded hotel with approximately 58,562 square feet across three floors and features amenities that include an indoor pool, a business center, fitness center, laundry facilities, and 2,800 square feet of meeting and event space. The City of Fort Morgan is the county seat of Morgan County and a commercial, industrial and recreational hub for Northeast Colorado. The City is home to a diverse set of industries such as Agriculture, Food Services, Oil & Gas, Manufacturing, Construction, Healthcare and Education, all of which generate demand for Hotel rooms. The City’s largest employers include the Cargill meat-packing plant, Leprino Foods cheese factory, Dairy Farmer of America milk processing facility, Viaero Wireless, Colorado Plains Medical Center, and Smirks, one of the largest processors of seeds in the world. The City of Fort Morgan also manages its numerous parks and open spaces as well as the Fieldhouse Recreation Center, a 40,000 square community center that was constructed in 2021 and will host various future sports and community events. Leisure demand drivers include the Jackson Lake State Park, Sherman Street National Historic District, Pawnee Pioneer Trail Scenic and Historic Byway, and Quail Dunes Golf Course. Entertainment demand drivers include the Fort Morgan Museum, Hall Event Center, Longmeadow Game Resort Clays Club, and Sweeney Cycle Park. The Hotel further benefits from overnight room demand initiated by Morgan Community College. Prior to COVID-19 (2019), the Hotel generated approximately $1.755 million of room revenue and $716.9 thousand of net operating income. Due to COVID-19’s impact on business-related travel, the Hotel generated approximately $1.05 million of room revenue and $252.6 thousand of net operating income in 2021; however, hotel demand from business travelers has returned to the market, presenting an opportunity for a new investor to acquire this hotel at an excellent basis and capitalize on revenue growth as Property performance continues to return to pre-pandemic levels.

Exclusively Listed By

Financing By

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