Investment Overview

Marcus & Millichap's National Hospitality Group, as exclusive representative of the seller, is pleased to present to qualified investors the Motel 6 / Studio 6 Wytheveille, located in Wytheville, Virginia. Subject property provides an excellent investment opportunity for an owner/operator to acquire a soon-to-open asset, under a new Franchise Agreement with a strong economy brand, at an attractive 3X RRM, Current ownership purchased the hotel as an independent property in 2015. Prior to 2015, hotel was operated as a Knights Inn. Since then, property has operated as a Rodeway Inn and Oyo hotel. In 2023, subject property closed in order to make necessary improvements to meet Motel 6 branding guidelines. vations to prepare to reopen as a dual-branded Motel 6 / Studio 6. Opening date is anticipated to be end of April. New property will have 72 rooms, one of which is a manager’s apartment. Inventory will be evenly devided between Motel 6 and Studio 6. Current ownership has spent or will have spent by opening date, approximately $500,000 in capital improvements. Those improvements include: • New roof • New Exterior / Interior paint • New 40” flat screen TVs • New Drapes • New microwaves, refrigerators • New guestroom towels • New Luxury Vinyl Flooring throughout • New brand signage • New trash container enclosure • New roof lighting to illuminate parking lot • Newly paved parking lot • New plumbing pipes (replacing original copper with PVC) • New motel 6 check in computer system • Approximately 50% new Ptac units • Approximately 50% new toilets • All walkways resurfaced and painted New Franchise Agreement allows for a 3-year deferment in installing Motel 6 approved guestroom ff&e. In the meantime, installed ff&e will come from an area Holiday Inn, and transfer with the sale of the property. A new engaged owner/operator will have the unique opportunity to assume ownership at or near reopening and be able to take advantage of the introduction of a new, strong economy brand, the extended stay market and a much improved physical asset. A new investor has the opportunity to benefit from the recent renovations to significantly increase RevPAR. Given that little relationship exists between the property as operated previously and the relaunched property (new brand/extended stay product/considerable capital investment), the offering is based solely on pro-forma projections, which are justified by STR marketplace performance data.