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Hotel-Motel

Wingate by Wyndham San Marcos

108 IH 35 S, San Marcos, TX 78666

Listing Price: $9,000,000

Cap Rate
8.44%
Number of Rooms
105
RevPAR
$58
Price/Room
$85,714
RRM
4.03
Year Built
1997

Investment Overview

Hotel Attributes: The Wingate San Marcos is a midscale Hotel built in 1997 and converted from the Holiday Inn Express brand to Wingate by Wyndham in 2013. The Hotel features 105 spacious guest rooms and several amenities such as a business center, fitness center, outdoor pool, and 1,125 square feet of meeting space. Prime Location with Easy Access to Market Demand Generators: The Property is positioned off Interstate 35, offering excellent visibility and accessibility to major demand generators in the vicinity. Leisure demand generators include Tanger and Premium Outlets (5.0 miles), San Marcos River (5.5 miles), Wonder World Cave and Park (2.8 miles), Texas State University Sports Complex (2.8 miles), and San Marcos Downtown Square (1.6 miles). The city’s strong economy infrastructure can be attributed to businesses like McCoy’s Building Supply Headquarters (1.7 miles), Central Texas Medical Center (2.5 miles), Amazon Fulfillment Center (4.0 miles), and Texas State University (2.7 miles) along with the over 38,800 students enrolled. San Marcos Growth and Nearby Development: San Marcos, Texas is the county seat of Hays County and about 30 miles south of Austin and 50 miles northwest of San Antonio, providing the ability to reach two of Texas’ largest cities within minutes. Hays County led the country in population growth with a 53 percent increase from 2010-2020 according to U.S. Census Data. The cities rapid growth and central Texas location makes the region a prime spot for new commercial developments. Recently, the city approved a $267 million, 820,000 square foot TV, film, and virtual production studio to be finished by April 2023. The film studio will be located less than seven miles from the Hotel and provide over 1,400 industry jobs to the community. San Marcos Hospitality Supply Change: The San Marcos Hospitality climate is changing as the city continues to grow. Demand has steadily increased since 2020, while the supply in the market has diminished due to hospitality to multifamily conversions. This trend has led to steady year-over-year rate increases in the market, peaking April 2022 at 43.5 percent ADR growth. Significant Top-Line Revenue and Operating Income: The Property achieved revenues above $2.23 million through the twelve-month period ending June 2022, and a healthy operating income of over $759 thousand or 33.6 percent of total revenue, after a 4 percent capital replacement reserve. Fee-Simple Interest: The Hotel presents an opportunity to acquire a well-branded, midscale asset as fee-simple.

Investment Highlights

  • Three-Story, 105-Room, Midscale Hotel Converted from Holiday Inn Express to Wingate in 2013
  • Austin MSA Location, Within the Fastest Growing County in the Country
  • Well Positioned with Visibility from Interstate 35
  • Currently Absentee Owned – Providing Upside for Hands-On-Owner-Operator
  • Exceptional Hotel Operations Recording Over $2.23 Million in Revenues and a Net Operating Income of over 33.6 Percent of Gross Revenues
  • Upward Year-Over-Year RevPAR Trend Due to Increasing Room Demand and Diminishing Room Supply

Exclusively Listed By

Hotel-Motel

Wingate by Wyndham San Marcos

Listing Price: $9,000,000

Cap Rate
8.44%
Number of Rooms
105
RevPAR
$58
Price/Room
$85,714
RRM
4.03
Year Built
1997

Investment Highlights

  • Three-Story, 105-Room, Midscale Hotel Converted from Holiday Inn Express to Wingate in 2013
  • Austin MSA Location, Within the Fastest Growing County in the Country
  • Well Positioned with Visibility from Interstate 35
  • Currently Absentee Owned – Providing Upside for Hands-On-Owner-Operator
  • Exceptional Hotel Operations Recording Over $2.23 Million in Revenues and a Net Operating Income of over 33.6 Percent of Gross Revenues
  • Upward Year-Over-Year RevPAR Trend Due to Increasing Room Demand and Diminishing Room Supply

Investment Overview

Hotel Attributes: The Wingate San Marcos is a midscale Hotel built in 1997 and converted from the Holiday Inn Express brand to Wingate by Wyndham in 2013. The Hotel features 105 spacious guest rooms and several amenities such as a business center, fitness center, outdoor pool, and 1,125 square feet of meeting space. Prime Location with Easy Access to Market Demand Generators: The Property is positioned off Interstate 35, offering excellent visibility and accessibility to major demand generators in the vicinity. Leisure demand generators include Tanger and Premium Outlets (5.0 miles), San Marcos River (5.5 miles), Wonder World Cave and Park (2.8 miles), Texas State University Sports Complex (2.8 miles), and San Marcos Downtown Square (1.6 miles). The city’s strong economy infrastructure can be attributed to businesses like McCoy’s Building Supply Headquarters (1.7 miles), Central Texas Medical Center (2.5 miles), Amazon Fulfillment Center (4.0 miles), and Texas State University (2.7 miles) along with the over 38,800 students enrolled. San Marcos Growth and Nearby Development: San Marcos, Texas is the county seat of Hays County and about 30 miles south of Austin and 50 miles northwest of San Antonio, providing the ability to reach two of Texas’ largest cities within minutes. Hays County led the country in population growth with a 53 percent increase from 2010-2020 according to U.S. Census Data. The cities rapid growth and central Texas location makes the region a prime spot for new commercial developments. Recently, the city approved a $267 million, 820,000 square foot TV, film, and virtual production studio to be finished by April 2023. The film studio will be located less than seven miles from the Hotel and provide over 1,400 industry jobs to the community. San Marcos Hospitality Supply Change: The San Marcos Hospitality climate is changing as the city continues to grow. Demand has steadily increased since 2020, while the supply in the market has diminished due to hospitality to multifamily conversions. This trend has led to steady year-over-year rate increases in the market, peaking April 2022 at 43.5 percent ADR growth. Significant Top-Line Revenue and Operating Income: The Property achieved revenues above $2.23 million through the twelve-month period ending June 2022, and a healthy operating income of over $759 thousand or 33.6 percent of total revenue, after a 4 percent capital replacement reserve. Fee-Simple Interest: The Hotel presents an opportunity to acquire a well-branded, midscale asset as fee-simple.

Exclusively Listed By

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