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Hotel-Motel

Microtel Inn & Suites by Wyndham Breaux Bridge

2280 Rees St Ext, Breaux Bridge, LA 70517

Listing Price: $3,750,000

Cap Rate
7.41%
Number of Rooms
59
RevPAR
$47
Price/Room
$63,559
RRM
3.68
Year Built
2009

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 Microtel Inn & Suites Breaux Bridge (‘Hotel’ or ‘Property’). The Wyndham Hotels & Resorts-branded Hotel is offered at $3,750,000 or $63,559 per key. The Microtel Inn & Suites Breaux Bridge is located at 2280 Rees Street Extension in Breaux Bridge, Louisiana just off Interstate 10, which runs east-west from California to Florida. The 59-room building was built in 2009 and spans roughly 22,800 square feet across its three floors. The interior-corridor Hotel offers a variety of common amenities including barbeque grills, a business center, a meeting room, airport shuttle access, and an outdoor pool. A small city within the Lafayette metropolitan statistical area, Breaux Bridge is in the St. Martin Parish region of Louisiana. Nicknamed the “Crawfish Capital of the World,” Breaux Bridge hosts a crawfish festival each year that features live music, food, and a wide variety of Cajun-influenced tents with a plethora of activities. Typically consisting of three days, the Breaux Bridge Crawfish Festival had over thirty thousand attendees in 2021. Other attractions in the city include the Cajun County Swap Tour and St. Julien Park Sports Complex, both of which contribute significantly to tourism in the region. Aside from the flourishing tourist economy, Breaux Bridge’s top industries include construction, retail, finance, manufacturing, and health care. Top employers in the city include Lafayette General Health and Our Lady of Lourdes Regional Medical Center, both important businesses within the health care industry and the larger economy. Other top employers are spread across multiple industries and include Wood Group Production Services, the University of Louisiana Lafayette, Stuller Incorporated, and Schlumberger. Drive-to demand has significantly increased year-over-year and the Property has performed exceptionally well within the local market. The subject Property has seen growth in room revenue and net operating income year-over-year. In 2021, the Property achieved a room revenue of over $1.019 and maintained a healthy cash flow and net operating income of $277.7 thousand or 26.8 percent of gross revenues; compared to 2019, when room revenue was recorded at $820.5 thousand, and NOI was 19.6 percent of gross revenues. After the change-of-ownership PIP is completed, a new owner can expect to increase daily rates and continue boosting RevPAR.

Investment Highlights

  • Three-Story, 59-Room, Interior-Corridor, Wyndham Hotels & Resorts-Branded Hotel Within Lafayette Metropolitan Statistical Area
  • Priced Below Replacement Costs at $63,559 Per Key
  • Easily Accessible from Interstate 10 – One of the Most Trafficked Thoroughfares in Breaux Bridge
  • Located 10 Miles from Lafayette Regional/Paul Fournet Field
  • Submarket RevPAR Growth Trending Upwards

Exclusively Listed By

Hotel-Motel

Microtel Inn & Suites by Wyndham Breaux Bridge

Listing Price: $3,750,000

Cap Rate
7.41%
Number of Rooms
59
RevPAR
$47
Price/Room
$63,559
RRM
3.68
Year Built
2009

Investment Highlights

  • Three-Story, 59-Room, Interior-Corridor, Wyndham Hotels & Resorts-Branded Hotel Within Lafayette Metropolitan Statistical Area
  • Priced Below Replacement Costs at $63,559 Per Key
  • Easily Accessible from Interstate 10 – One of the Most Trafficked Thoroughfares in Breaux Bridge
  • Located 10 Miles from Lafayette Regional/Paul Fournet Field
  • Submarket RevPAR Growth Trending Upwards

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 Microtel Inn & Suites Breaux Bridge (‘Hotel’ or ‘Property’). The Wyndham Hotels & Resorts-branded Hotel is offered at $3,750,000 or $63,559 per key. The Microtel Inn & Suites Breaux Bridge is located at 2280 Rees Street Extension in Breaux Bridge, Louisiana just off Interstate 10, which runs east-west from California to Florida. The 59-room building was built in 2009 and spans roughly 22,800 square feet across its three floors. The interior-corridor Hotel offers a variety of common amenities including barbeque grills, a business center, a meeting room, airport shuttle access, and an outdoor pool. A small city within the Lafayette metropolitan statistical area, Breaux Bridge is in the St. Martin Parish region of Louisiana. Nicknamed the “Crawfish Capital of the World,” Breaux Bridge hosts a crawfish festival each year that features live music, food, and a wide variety of Cajun-influenced tents with a plethora of activities. Typically consisting of three days, the Breaux Bridge Crawfish Festival had over thirty thousand attendees in 2021. Other attractions in the city include the Cajun County Swap Tour and St. Julien Park Sports Complex, both of which contribute significantly to tourism in the region. Aside from the flourishing tourist economy, Breaux Bridge’s top industries include construction, retail, finance, manufacturing, and health care. Top employers in the city include Lafayette General Health and Our Lady of Lourdes Regional Medical Center, both important businesses within the health care industry and the larger economy. Other top employers are spread across multiple industries and include Wood Group Production Services, the University of Louisiana Lafayette, Stuller Incorporated, and Schlumberger. Drive-to demand has significantly increased year-over-year and the Property has performed exceptionally well within the local market. The subject Property has seen growth in room revenue and net operating income year-over-year. In 2021, the Property achieved a room revenue of over $1.019 and maintained a healthy cash flow and net operating income of $277.7 thousand or 26.8 percent of gross revenues; compared to 2019, when room revenue was recorded at $820.5 thousand, and NOI was 19.6 percent of gross revenues. After the change-of-ownership PIP is completed, a new owner can expect to increase daily rates and continue boosting RevPAR.

Exclusively Listed By

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