Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Holiday Inn Express & Suites Denver North Thornton (‘Hotel’ or ‘Property’) located in Thornton, Colorado. The IHG Hotels-branded Hotel is offered at $13,500,000 or $158,824 per key. The Holiday Inn Express & Suites Denver North Thornton is an 85-room, four-story Hotel stationed at 12030 Grant St in Thornton, Colorado, just off Interstate 25. Various common area amenities at the Property include an indoor heated pool with a whirlpool hot tub, breakfast area, fitness center, meeting space, laundry facility, and business center. Thornton, Colorado, is a lively city situated just northeast of downtown Denver. The Hotel's proximity to some of the city’s popular demand generators allows it to take full advantage of the prominent industries within the local economy Outdoor enthusiasts can explore the 1,200 acres of parks and recreational areas, including the popular Carpenter Park (3.3 miles) and Trail Winds Park (5.8 miles), perfect for hiking, biking, and picnicking. Golf enthusiasts can tee off at the award-winning Thorncreek Golf Course (2.6 miles). The city also hosts numerous community events, such as the Thorntonfest (3.3 miles) and WinterFest (3.3 miles), showcasing local art, music, and culture. The hotel also benefits from its proximity to Denver. History enthusiasts can explore the iconic Denver Art Museum (14.1 miles), which showcases a diverse collection of artworks, or visit the Colorado State Capitol (13.1 miles) to learn about the state's history and enjoy breathtaking views from the dome. For nature lovers, a visit to the Denver Botanic Gardens (14.9 miles) is a must, featuring stunning gardens, exotic plants, and seasonal exhibits. Adventure seekers can head to Confluence Park (12.1 miles), where they can kayak or paddleboard along the South Platte River. Sports fans can catch a game at Coors Field (11.7 miles), home to the Colorado Rockies baseball team, or visit the Mile High Stadium (12.8 miles) to cheer on the Denver Broncos football team. Amazon Fulfilment Center DEN3 and North Suburban Medical Center, two of the city’s largest employers, are located 4 miles and 4.3 miles from the Hotel, respectively, and are prime revenue drivers for the surrounding area. Another major employer is Denver International Airport, located 29.1 miles from the hotel. Additionally, Thornton has witnessed significant infrastructure investments in recent years, such as the widening of major roadways and the expansion of public parks and trails. In the trailing twelve-month period ending in December 2022, the limited-service Hotel recorded total revenues of over $3 million. Twelve-month RevPAR in the Denver North hotel submarket was up sharply as of May, climbing at an 11.5 percent year-over-year rate. The prospective buyer should be able to capitalize on the anticipated increase in RevPAR that the entire area is experiencing and with better management of expenses will see a higher NOI flow-through.