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 Quality Inn Lewiston (‘Hotel’ or ‘Property’) located in Lewiston, Idaho. The Choice Hotels-branded Hotel is offered at $5,499,000 or $105,750 per key. The Quality Inn Lewiston is a 52-room, two-story, Hotel located at 2128 8th Ave in Lewiston, Idaho near State Highway 12 and Memorial Bridge. Various common area amenities at the Property include an indoor heated pool with whirlpool hot tub, breakfast area, business center, and laundry facility. Lewiston, Idaho is located on the Idaho/Washington border in the north-central region of the state at the junction of the Snake River and Clearwater River. The ninth-largest city in Idaho and the second-largest city in the state’s northern region, Lewiston is positioned adjacent to Clarkston in Asotin County, Washington, both of which comprise the Lewiston, ID-WA Metropolitan Statistical Area. Lewiston is also home to Lewis-Clark State College, a public college that offers over 130 degrees and enrolls more than 4,000 students, which has been ranked consistently in the top 10 colleges west of Oklahoma. The college has seen significant growth recently, with a 13.6 percent surge in new degree-seeking students according to the school’s latest census day totals. Lewiston is a regional hub for transportation and commerce, with a diverse economy that has been sustained by a mix of sectors, including agriculture, manufacturing, education, healthcare, and state government, that have remained significant employers for many years. The city attracts some tourists to the area for its natural beauty, recreation and visiting of historical landmarks, and as a stopping point for people travelling through the area. Many visitors seek out the numerous hiking, fishing, hunting, and boating opportunities abundant in the area with both the Snake and Clearwater Rivers as popular destinations for tourists. Furthermore, the Hells Gate State Park is another frequently visited spot for outdoor activities such as picnicking and swimming. The Lewis-Clark College also offers a wide range of cultural and educational activities, such as concerts, plays, lectures, and art exhibits. Dozens of historical sites are scattered throughout the city, including the Lewis-Clark Valley Heritage Center, which tells the story of the Lewis and Clark Expedition and the Nez Perce Tribe. Museums, such as the Asotin County Historical Society & Museum, offer even more insights to the historical significance of the region. Lewiston also hosts a variety of special events and festivals throughout the year, such as the Lewiston Round-Up, the Lewiston Jazz Festival, the Clearwater River Casino Blues Festival, and the Nez Perce County Fair. In 2022, the Hotel recorded room revenues over $1.49 million and a net operating income just over $622 thousand, or 41.2 percent as a percentage of total revenues, after a 4 percent capital replacement reserve and 3 percent management fee. The Property has consistently outperformed the STR-defined competitive set since 2019, averaging over a 132 percent RevPAR penetration index each year. A new owner can take advantage of the Hotel’s high cash flow by capitalizing on its prime location near a wide range of demand generators and proximity to Highway 12 and the Lewiston-Nez Perce County Regional Airport.