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 La Quinta Inns & Suites Colorado Springs Garden of the Gods (‘Hotel’ or ‘Property’) located in Colorado Springs, Colorado. The Wyndham Hotels-branded Hotel is offered at $7,000,000 or $66,667 per key. The La Quinta Inns & Suites Colorado Springs Garden of the Gods is a 105-room, three-story Hotel stationed at 4385 Sinton Rd in Colorado Springs, Colorado, recently renovated in 2022 and positioned just off Interstate 25. Various common area amenities at the Property include an outdoor pool, breakfast area, bus parking, laundry facility, and business center. Colorado Springs, Colorado is a vibrant city situated at the eastern foot of the Rocky Mountains. Located in the central part of Colorado, it serves as the county seat of El Paso County and is known for stunning landscapes and outdoor recreational opportunities. Visitors can explore the iconic Garden of the Gods, a geological marvel featuring towering sandstone rock formations. Additionally, visitors can hike or take a scenic drive to Pikes Peak, one of Colorado's famous "Fourteeners”. The city also houses the United States Air Force Academy, where visitors can witness cadet training and explore the visitor center. Additionally, the charming and historic downtown area offers an array of shops, restaurants, and cultural attractions, including the Colorado Springs Fine Arts Center and the Colorado Springs Pioneers Museum, making it a delightful destination for both residents and tourists alike. The Hotel is also close to the Colorado Springs Olympic & Paralympic Training Center (6.1 miles) and Colorado College (3.7 miles). Colorado Springs serves as a regional hub for industries such as defense, aerospace, technology, and healthcare. The presence of military installations, including the United States Air Force Academy, Fort Carson, and Peterson Air Force Base, plays a significant role in the local economy. These defense-related activities drive employment and attract defense contractors, such as Lockheed Martin and Boeing, which are major employers in the area. Additionally, the city has a growing technology sector, with companies like Hewlett Packard Enterprise and Oracle maintaining a presence. The healthcare industry is also prominent, with large employers like Centura Health and UCHealth. In the trailing twelve-month period ending in December 2022, the limited-service Hotel recorded room revenues of over $1.5 million and a net operating income just over $511 thousand, or 31.75 percent as a percentage of total revenues, after a 4 percent capital replacement reserve and a 3 percent management fee. The Property has been thoughtfully maintained with various capital expenditures in 2023 including new ?ooring, paint, LED mirrors, toilets, fridges, and microwaves in guest rooms. Moreover, in 2023, signi?cant renovations were carried out on the Hotel parking lot, exterior lights, lobby, railings, and stairs. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR from better revenue management, not only benefiting from increased market share but also higher NOI flow-through.