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Hotel-Motel

Baymont by Wyndham Big Spring

917 Lamesa Hwy, Big Spring, TX 79720

Listing Price: $6,550,000

Cap Rate
5.63%
Number of Rooms
75
RevPAR
$56
Price/Room
$87,333
RRM
4.25
Year Built
2015

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 by Wyndham Big Spring (‘Hotel’ or ‘Property’). The Wyndham-branded Hotel is offered at $6,550,000 or $87,333 per key. The Baymont by Wyndham Big Spring is located at 917 Lamesa Highway in Big Spring, Texas just off Lamesa Highway and Interstate 20. The 75-room, four-story property was built in 2015 and encompasses an area of 1.57 acres. Maintaining a plethora of common area amenities, the Hotel is equipped with a business center, fitness center, gift shop, guest laundry facility, barbeque grills, and parking to accommodate buses and trucks. The county seat of Howard County, Big Spring is centrally located between Midland, Abilene, Lubbock, and San Angelo. Big Spring’s economy, largely benefitting from its location in the Permian Basin, relies primarily on oil, gas, mining, and healthcare; of which nearly a third of the city’s population designates as their occupation. Major energy and oil companies such as NRG Energy, Baker Hughes, Delek US, MidAmerican Energy, and Atmos Energy all operate within the city. Other major industries in Big Spring include retail trade, education, and agriculture with businesses such as Howard College, Big Spring State Hospital, and Murphy USA having the highest employment numbers. Another facet of Big Spring’s diverse economy is tourism, which doesn’t comprise a significant portion of the economy but does drive demand for lodging. Visitors and locals alike enjoy the amenable outdoor activities provided by Big Spring State Park, Comanche Trail, or Moss Creek Lake while museumgoers can visit the Heritage Museum of Big Spring or Hangar 25 Air Museum. Lastly, from professional productions to local shows, the Big Spring Municipal Auditorium is a landmark used for several events throughout the year and is a staple attraction for the city. The market RevPAR directly correlates with the US oil and gas industry, explaining the decline in RevPAR through 2020 as the sector lost nearly 200,000 jobs or 20 percent of the total workforce. With estimates that employment in US energy will rebound in the coming years and surpass pre-2020 levels, a prospective buyer should expect Hotel revenues to continue substantial year-over-year growth. The Subject Property has already seen a 15 percent RevPAR growth in the trailing twelve-month June 2022 compared to 2021.

Investment Highlights

  • Four-Story, 75-Room, Interior-Corridor, Wyndham-Branded Hotel Built in 2015
  • Excellent Highway Accessibility and Visibility from Interstate 20 and Lamesa Highway
  • Positioned in Upward Trending Market as Oil and Gas Employment Continues to Recover

Exclusively Listed By

Hotel-Motel

Baymont by Wyndham Big Spring

Listing Price: $6,550,000

Cap Rate
5.63%
Number of Rooms
75
RevPAR
$56
Price/Room
$87,333
RRM
4.25
Year Built
2015

Investment Highlights

  • Four-Story, 75-Room, Interior-Corridor, Wyndham-Branded Hotel Built in 2015
  • Excellent Highway Accessibility and Visibility from Interstate 20 and Lamesa Highway
  • Positioned in Upward Trending Market as Oil and Gas Employment Continues to Recover

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 by Wyndham Big Spring (‘Hotel’ or ‘Property’). The Wyndham-branded Hotel is offered at $6,550,000 or $87,333 per key. The Baymont by Wyndham Big Spring is located at 917 Lamesa Highway in Big Spring, Texas just off Lamesa Highway and Interstate 20. The 75-room, four-story property was built in 2015 and encompasses an area of 1.57 acres. Maintaining a plethora of common area amenities, the Hotel is equipped with a business center, fitness center, gift shop, guest laundry facility, barbeque grills, and parking to accommodate buses and trucks. The county seat of Howard County, Big Spring is centrally located between Midland, Abilene, Lubbock, and San Angelo. Big Spring’s economy, largely benefitting from its location in the Permian Basin, relies primarily on oil, gas, mining, and healthcare; of which nearly a third of the city’s population designates as their occupation. Major energy and oil companies such as NRG Energy, Baker Hughes, Delek US, MidAmerican Energy, and Atmos Energy all operate within the city. Other major industries in Big Spring include retail trade, education, and agriculture with businesses such as Howard College, Big Spring State Hospital, and Murphy USA having the highest employment numbers. Another facet of Big Spring’s diverse economy is tourism, which doesn’t comprise a significant portion of the economy but does drive demand for lodging. Visitors and locals alike enjoy the amenable outdoor activities provided by Big Spring State Park, Comanche Trail, or Moss Creek Lake while museumgoers can visit the Heritage Museum of Big Spring or Hangar 25 Air Museum. Lastly, from professional productions to local shows, the Big Spring Municipal Auditorium is a landmark used for several events throughout the year and is a staple attraction for the city. The market RevPAR directly correlates with the US oil and gas industry, explaining the decline in RevPAR through 2020 as the sector lost nearly 200,000 jobs or 20 percent of the total workforce. With estimates that employment in US energy will rebound in the coming years and surpass pre-2020 levels, a prospective buyer should expect Hotel revenues to continue substantial year-over-year growth. The Subject Property has already seen a 15 percent RevPAR growth in the trailing twelve-month June 2022 compared to 2021.

Exclusively Listed By

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