Skip to main content

Hotel-Motel

Country Inn & Suites by Radisson London

2035 KY-192, London, KY 40741

Listing Price: $8,900,000

Cap Rate
8.95%
Number of Rooms
75
RevPAR
$81
Price/Room
$118,667
Year Built
2007

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Country Inn London (‘Hotel’ or ‘Property’) located in London, Kentucky. The Choice Hotels-branded Hotel is offered at $8,900,000 or $118,667 per key.

The Country Inn London is a 75-room, three-story Hotel stationed at 2035 W Hwy 192 in London, Kentucky, just off Interstate 75. Various common area amenities at the Property include an indoor heated pool, fitness center, meeting space, banquet rooms, and business center.

London, Kentucky, situated in the southeastern part of the state, is a charming city that is 76 miles South of Lexington. As the county seat of Laurel County, London holds a central role in the region. 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. Outdoor enthusiasts can explore the natural beauty of the area through activities such as hiking and picnicking at Levi Jackson Wilderness Road State Park (3.7 miles) or fishing and boating at Laurel River Lake (16.4 miles). The city also hosts local events like the World Chicken Festival, celebrating the region's poultry heritage with live entertainment, food vendors, and arts and crafts. History buffs can visit the Camp Wildcat Civil War Battlefield (15.6 miles), offering visitors a glimpse into the past.

The city hosts major employers, including Saint Joseph Health London hospital (2.1 miles) and Laurel County School District (7.8 miles), fostering healthcare and educational opportunities. Recent investments have propelled London's economic development, with projects like the London-Laurel County Industrial Park attracting businesses and stimulating job growth. The largest of these recent developments include a 198-acre expansion from Buffalo Trace Distillery’s parent company, Sazerac, which is slated to be complete in the spring of 2025. The $600 million expansion will be the largest distilled spirits-related investment in state history and is located under two miles from the Hotel, which is also the closest hotel to the future bourbon storage facility. Additionally, the city's strategic location at the crossroads of major highways has enhanced its role as a transportation and logistics hub.

In the trailing twelve-month period ending in June 2023, the full-service Hotel recorded room revenues of over $2.2 million and a net operating income just over $796,000, or 35.9 percent as a percentage of total revenues, after a 3 percent management fee. As of June, the twelve-month average RevPAR in the Corbin/London Area hotel submarket was firmly in the green and climbing at an annual rate of 9.3 percent. 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.

Investment Highlights

  • Three-Story, 75-Room, Choice Hotels-Branded, Interior-Corridor Hotel
  • Located about 76 Miles South of Lexington
  • Easily Accessible and Highly Visible from Interstate 75
  • Situated Near London's Largest Employers and Highest Value Businesses
  • TTM June 2023 Room Revenues Exceeded $2.2 million while Maintaining a NOI Over $796,000
  • Offered Fee-Simple, Unencumbered by Management Contracts or Existing Debt

Exclusively Listed By

Financing By

Hotel-Motel

Country Inn & Suites by Radisson London

Listing Price: $8,900,000

Cap Rate
8.95%
Number of Rooms
75
RevPAR
$81
Price/Room
$118,667
Year Built
2007

Investment Highlights

  • Three-Story, 75-Room, Choice Hotels-Branded, Interior-Corridor Hotel
  • Located about 76 Miles South of Lexington
  • Easily Accessible and Highly Visible from Interstate 75
  • Situated Near London's Largest Employers and Highest Value Businesses
  • TTM June 2023 Room Revenues Exceeded $2.2 million while Maintaining a NOI Over $796,000
  • Offered Fee-Simple, Unencumbered by Management Contracts or Existing Debt

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Country Inn London (‘Hotel’ or ‘Property’) located in London, Kentucky. The Choice Hotels-branded Hotel is offered at $8,900,000 or $118,667 per key. The Country Inn London is a 75-room, three-story Hotel stationed at 2035 W Hwy 192 in London, Kentucky, just off Interstate 75. Various common area amenities at the Property include an indoor heated pool, fitness center, meeting space, banquet rooms, and business center. London, Kentucky, situated in the southeastern part of the state, is a charming city that is 76 miles South of Lexington. As the county seat of Laurel County, London holds a central role in the region. 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. Outdoor enthusiasts can explore the natural beauty of the area through activities such as hiking and picnicking at Levi Jackson Wilderness Road State Park (3.7 miles) or fishing and boating at Laurel River Lake (16.4 miles). The city also hosts local events like the World Chicken Festival, celebrating the region's poultry heritage with live entertainment, food vendors, and arts and crafts. History buffs can visit the Camp Wildcat Civil War Battlefield (15.6 miles), offering visitors a glimpse into the past. The city hosts major employers, including Saint Joseph Health London hospital (2.1 miles) and Laurel County School District (7.8 miles), fostering healthcare and educational opportunities. Recent investments have propelled London's economic development, with projects like the London-Laurel County Industrial Park attracting businesses and stimulating job growth. The largest of these recent developments include a 198-acre expansion from Buffalo Trace Distillery’s parent company, Sazerac, which is slated to be complete in the spring of 2025. The $600 million expansion will be the largest distilled spirits-related investment in state history and is located under two miles from the Hotel, which is also the closest hotel to the future bourbon storage facility. Additionally, the city's strategic location at the crossroads of major highways has enhanced its role as a transportation and logistics hub. In the trailing twelve-month period ending in June 2023, the full-service Hotel recorded room revenues of over $2.2 million and a net operating income just over $796,000, or 35.9 percent as a percentage of total revenues, after a 3 percent management fee. As of June, the twelve-month average RevPAR in the Corbin/London Area hotel submarket was firmly in the green and climbing at an annual rate of 9.3 percent. 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.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower