Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors La Quinta Inns & Suites San Antonio I-35 N at Rittiman Rd (‘Hotel’ or ‘Property’) located in San Antonio, Texas. The Wyndham Hotels-branded Hotel is offered at $6,000,000 or $46,154 per key. The La Quinta Inns & Suites San Antonio I-35 N at Rittiman Rd is a 130-room, two-story Hotel stationed at 6410 N Interstate 35 San Antonio, TX 78218, just off Interstate 35 and Interstate 410. Various common area amenities at the Property include an outdoor pool, breakfast area, bus parking, laundry facility, and business center. San Antonio, Texas is situated in the southern part of the state and serves as the seat of Bexar County. The Hotels proximity to some of the city’s popular demand generators allows it to take full advantage of the prominent industries within the local economy. San Antonio is rich in history, one of its most famous landmarks is the Alamo, a historic mission and site of a significant battle during the Texas Revolution. Additionally, the San Antonio River Walk, a picturesque network of walkways along the San Antonio River, is a popular destination featuring vibrant shops, restaurants, and entertainment venues. The city is also home to the San Antonio Missions National Historical Park, which preserves four Spanish colonial missions, including the Mission San José and Mission Concepción. Other notable attractions include the Market Square, known as El Mercado, where visitors can experience Mexican culture through food, music, and shopping. Additionally, families can enjoy the rides and shows at SeaWorld San Antonio or explore the extensive exhibits at the San Antonio Museum of Art. Nearby room demand generators include the AT&T Center (6.9 miles), San Antonio Zoo (9.5 miles), and San Antonio International Airport(7.9 miles). San Antonio’s strategic location and strong infrastructure have made it a hub for industries such as healthcare, military, and finance. The healthcare sector is a major driver of the local economy, with renowned institutions like the University Health System, Methodist Healthcare System, and Christus Santa Rosa Health System providing a significant number of jobs. San Antonio is also known for its thriving military presence, hosting several military bases, including Lackland Air Force Base, Fort Sam Houston, and Randolph Air Force Base. These installations, along with defense contractors like Boeing and Lockheed Martin, contribute significantly to the economy. Financial services, including companies like USAA and Frost Bank, also play a vital role in the city's economy. In the trailing twelve-month period ending in March 2023, the limited-service Hotel recorded room revenues of over $1.8 million and a net operating income just over $581 thousand, or 30.26 percent as a percentage of total revenues, after a 4 percent capital replacement reserve and a 3 percent management fee. As of April, twelve-month average RevPAR in the San Antonio Northeast hotel submarket was climbing at an annual rate of 6.2 percent. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR through better revenue management, not only benefiting from increased market share but also higher NOI flow-through.