Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the La Quinta Inn & Suites by Wyndham N Little Rock-McCain Mall (‘Hotel’ or ‘Property’) located in North Little Rock, Arkansas. The Wyndham Hotels & Resorts-branded Hotel is being listed on a "Call for Offers" basis. Please contact the listing agent for more information. Little Rock, Arkansas is a city located in Pulaski County in the central region of the state. With the region’s employers and popular revenue generators near the Property, this sought-after Hotel benefits from many key industries of the city which include aerospace & defense, manufacturing, technology, transportation, distribution, and agriculture. The city is home to the company headquarters of Dillard's, Windstream Communications, Acxiom, Stephens Inc., Heifer International, Winrock International, the Clinton Foundation, and the Rose Law Firm. Additional corporations, such as Amazon, Dassault Falcon Jet, LM Wind Power, Simmons Bank, Euronet Worldwide, AT&T, and Entergy have large operations in the city. These companies are prime revenue drivers for the surrounding area, bringing millions of business travelers to the city. According to Little Rock Convention & Visitors Bureau, 6.4 million tourists flood the city annually, generating $1.95 billion in travel spending. Leisure demand can be attributed to cultural institutions like Arkansas Museum of Fine Arts, the Arkansas Repertory Theatre, the Arkansas Symphony Orchestra, and the Mosaic Templars Cultural Center. Furthermore, the University of Arkansas enrolls over 27,500 students and hosts multiple sporting and educational events each year. Also, nearby smaller colleges, such as Arkansas Baptist College and Philander Smith College, arrange similar events that drive room demand. The Clinton National Airport is less than seven miles from the Hotel, providing nationwide flights to over two million passengers yearly. After completion of the interior PIP in 2023, the limited-service Hotel is expected to recorded room revenues of over $2.06 million and a net operating income just over $814,000, or 39.5 percent as a percentage of total revenues, after a 4 percent capital replacement reserve and 3 percent management fee. As of August, twelve-month average RevPAR in the Little Rock North & East hotel submarket was climbing at an exceptionally strong 8.6 percent annual rate. 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.