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Hotel-Motel

Super 8 by Wyndham Kenedy

142 Park Pl, Kenedy, TX 78119

Listing Price: $2,400,000

Cap Rate
3.43%
Number of Rooms
61
RevPAR
$35
Price/Room
$39,344
RRM
3.05
Year Built
2014

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 Super 8 by Wyndham Kenedy (‘Hotel’ or ‘Property’). The Wyndham-branded Hotel is offered at $2,400,000 or $39,344 per key. Super 8 by Wyndham Kenedy is located at 142 Park Place Boulevard in Kenedy, Texas off Highway 181. The 61-room, three-story Property was built in 2014 and is situated on a 2.41-acre lot. Maintaining a variety of common area amenities, the Property comes equipped with a guest laundry facility, kitchenette (in select rooms), a breakfast area, and parking that accommodates buses, trucks, and RVs. Located about 60 miles southeast of San Antonio, Kenedy is situated within Karnes County, Texas. The town relies largely on the oil and gas industry for economic contributions, with employers such as Marathon Oil, Drillwell Energy Services, and Pico Propane & Fuel providing the most jobs. While the Kenedy economy is anchored in oil and gas, the town sees a significant impact from mining, construction, manufacturing, and agriculture. Lastly, tourism helps to prop up the local economy with popular attractions like Joe Gulley Park, Karnes County Museum, Wows Longhorn Museum, and the Helena Ghost Town providing visitors with the opportunity to embrace their adventurous side. With the Burris Ranch Airport and Kenedy Regional Airport located nearby, those traveling to the town to work in the oil and gas fields have a short commute from the tarmac. Operationally, the three-story, 61-room Hotel brought in top-line revenues of over $693,000 thousand in 2021, with a net operating income of over $66,000 or 9.5 percent of total revenues, after a four percent capital replacement reserve. Trailing twelve-month June 2022 RevPAR was set at $35.33, a 111 percent RevPAR Penetration. This investment presents a new investor the opportunity to acquire a well-maintained turn-key asset, with major upside potential to increase RevPAR and NOI through revenue management strategies.

Investment Highlights

  • Three-Story, 61-Room, Interior-Corridor, Wyndham-Branded Hotel Built in 2014
  • Excellent Highway Accessibility and Visibility from Highway 181, the Highest Trafficked North-South Thoroughfare that Connects San Antonio to Corpus Christi
  • Significant Value Add Opportunity for New Owner to Increase RevPAR and NOI Through Revenue Management Strategies
  • Offered Fee Simple, Unencumbered by Management Contract or Debt

Exclusively Listed By

Hotel-Motel

Super 8 by Wyndham Kenedy

Listing Price: $2,400,000

Cap Rate
3.43%
Number of Rooms
61
RevPAR
$35
Price/Room
$39,344
RRM
3.05
Year Built
2014

Investment Highlights

  • Three-Story, 61-Room, Interior-Corridor, Wyndham-Branded Hotel Built in 2014
  • Excellent Highway Accessibility and Visibility from Highway 181, the Highest Trafficked North-South Thoroughfare that Connects San Antonio to Corpus Christi
  • Significant Value Add Opportunity for New Owner to Increase RevPAR and NOI Through Revenue Management Strategies
  • Offered Fee Simple, Unencumbered by Management Contract or Debt

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 Super 8 by Wyndham Kenedy (‘Hotel’ or ‘Property’). The Wyndham-branded Hotel is offered at $2,400,000 or $39,344 per key. Super 8 by Wyndham Kenedy is located at 142 Park Place Boulevard in Kenedy, Texas off Highway 181. The 61-room, three-story Property was built in 2014 and is situated on a 2.41-acre lot. Maintaining a variety of common area amenities, the Property comes equipped with a guest laundry facility, kitchenette (in select rooms), a breakfast area, and parking that accommodates buses, trucks, and RVs. Located about 60 miles southeast of San Antonio, Kenedy is situated within Karnes County, Texas. The town relies largely on the oil and gas industry for economic contributions, with employers such as Marathon Oil, Drillwell Energy Services, and Pico Propane & Fuel providing the most jobs. While the Kenedy economy is anchored in oil and gas, the town sees a significant impact from mining, construction, manufacturing, and agriculture. Lastly, tourism helps to prop up the local economy with popular attractions like Joe Gulley Park, Karnes County Museum, Wows Longhorn Museum, and the Helena Ghost Town providing visitors with the opportunity to embrace their adventurous side. With the Burris Ranch Airport and Kenedy Regional Airport located nearby, those traveling to the town to work in the oil and gas fields have a short commute from the tarmac. Operationally, the three-story, 61-room Hotel brought in top-line revenues of over $693,000 thousand in 2021, with a net operating income of over $66,000 or 9.5 percent of total revenues, after a four percent capital replacement reserve. Trailing twelve-month June 2022 RevPAR was set at $35.33, a 111 percent RevPAR Penetration. This investment presents a new investor the opportunity to acquire a well-maintained turn-key asset, with major upside potential to increase RevPAR and NOI through revenue management strategies.

Exclusively Listed By

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