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Hotel-Motel

La Quinta Inn & Suites Rifle

600 Wapiti Ct, Rifle, CO 81650

Listing Price: $12,200,000

Cap Rate
7.30%
Number of Rooms
114
RevPAR
$59
Gross SF
63,337
Price/Room
$107,018
Price/Gross SF
$192.62
Year Built
2006

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the La Quinta Inn & Suites Rifle located in Rifle, a town in western Colorado. The property underwent an extensive $2-2.5 million renovation that took place from 2017-2019. The hotel consists of 114 guest rooms and offers amenities including a heated indoor pool & spa, fitness center, outdoor patio with seating, and complimentary breakfast. Business amenities include a business center and 1,300 square feet of meeting space. A second building that was built and attached to the first floor in 2008 could potentially give a new Buyer the option to convert the entire property to a dual-brand hotel. The La Quinta Inn & Suites Rifle represents the opportunity to acquire a Wyndham branded hotel in a strong market. Our Pro Forma analysis assumes market recovery to pre-pandemic levels by year two, then continued modest growth supported by the increasing population and demand growth in the western Colorado area.

Investment Highlights

  • $2M+ Renovation Completed in 2019
  • Potential Dual-Branding Opportunity
  • Nearby Attractions Include Garfield County Fairgrounds, Ute Theater and Rifle Falls State Park
  • ~20 Minute Drive to Glenwood Springs, a Popular Resort City with Several Draws
  • Located Halfway Between Aspen and Grand Junction
  • Ideally Located Off of Interstate 70 and U.S. Route 6 (75k+ VPD)

Exclusively Listed By

Broker of Record

  • Adam Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s) CO: ER100091205

    Colorado

Hotel-Motel

La Quinta Inn & Suites Rifle

Listing Price: $12,200,000

Cap Rate
7.30%
Number of Rooms
114
RevPAR
$59
Gross SF
63,337
Price/Room
$107,018
Price/Gross SF
$192.62
Year Built
2006

Investment Highlights

  • $2M+ Renovation Completed in 2019
  • Potential Dual-Branding Opportunity
  • Nearby Attractions Include Garfield County Fairgrounds, Ute Theater and Rifle Falls State Park
  • ~20 Minute Drive to Glenwood Springs, a Popular Resort City with Several Draws
  • Located Halfway Between Aspen and Grand Junction
  • Ideally Located Off of Interstate 70 and U.S. Route 6 (75k+ VPD)

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the La Quinta Inn & Suites Rifle located in Rifle, a town in western Colorado. The property underwent an extensive $2-2.5 million renovation that took place from 2017-2019. The hotel consists of 114 guest rooms and offers amenities including a heated indoor pool & spa, fitness center, outdoor patio with seating, and complimentary breakfast. Business amenities include a business center and 1,300 square feet of meeting space. A second building that was built and attached to the first floor in 2008 could potentially give a new Buyer the option to convert the entire property to a dual-brand hotel. The La Quinta Inn & Suites Rifle represents the opportunity to acquire a Wyndham branded hotel in a strong market. Our Pro Forma analysis assumes market recovery to pre-pandemic levels by year two, then continued modest growth supported by the increasing population and demand growth in the western Colorado area.

Exclusively Listed By

Broker of Record

  • Adam Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s): CO: ER100091205

    Colorado

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