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Hotel-Motel

Quality Inn & Sleep Inn Harrisonburg

1881 Evelyn Byrd Ave, Harrisonburg, VA 22801

Listing Price: $13,700,000

Number of Rooms
148
RevPAR
$73
Gross SF
146,361
Price/Room
$92,568
Price/Gross SF
$93.60
Year Built
2007

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Quality Inn & Sleep Inn Harrisonburg Portfolio. The Harrisonburg Portfolio consists of two limited-service, midscale hotels ideally located near high density retail, restaurants, and businesses in the picturesque Shenandoah Valley, home to James Madison University.

Total 148 rooms; total $3.6M top line revenue. Both hotels have value-add opportunities with minimal improvements and/or expansion of amenities. The Quality Inn has earned GOLD status for the 2024 year, this means that hotel is in the top 10% of the brand.

Strong market demand drivers, demographic and economic growth boost the ability to grow revenue and
market share upon acquisition.

Harrisonburg, nestled in the picturesque Shenandoah Valley of Virginia, captivates visitors and residents alike with its unique blend of rich history, vibrant culture, and scenic beauty. Known as the "Friendly City," Harrisonburg exudes a welcoming atmosphere characterized by its diverse community and thriving arts scene. Home to James Madison University, the city enjoys a dynamic energy infused with academic vitality and youthful spirit. From its charming downtown adorned with quaint shops and eclectic eateries to its lush parks and recreational areas, Harrisonburg offers an array of experiences for outdoor enthusiasts and urban explorers alike. With a rich tapestry of festivals, cultural events, and historical landmarks, Harrisonburg embraces its heritage while embracing progress, making it a captivating destination and a beloved home for all who wander its streets.

The Quality Inn & Sleep Inn Harrisonburg Portfolio represents the opportunity to two franchised hotels in a strong market near several demand drivers. Our Pro Forma analysis
assumes continued modest growth supported by the increasing population and demand growth in Virginia's Shenandoah Valley.

Investment Highlights

  • Quality Inn: Three-Story, Interior Corridor, Choice Platinum Award-Winning Hotel | Renovated with Premium Finishes in 2023 | Potential for Boutique and/or Upper Midscale Branding
  • The Quality Inn has earned GOLD status for the 2024 year, this means that hotel is in the top 10% of the brand
  • Sleep Inn: Four-Story, Interior Corridor, Modern Midscale Hotel | New Signage - "Designed to Dream" | Minimal PIP Remaining | Positioned to Compete with Upper Midscale Comp Set
  • Ideally Located off Interstate 81 and U.S. Route 33 (60,000+ Vehicles Per Day)
  • Less Than a Mile from James Madison University (22k+ Enrollment)
  • Minutes to Attractions Including Edith J. Carrier Arboretum, Atlantic Union Bank Center, JMU Convocation Center, and Several Museums
  • Short Drive to Massanutten Resort (325,000 Visitors Annually) and Shenandoah National Park (1.4M Visitors Annually)

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Hotel-Motel

Quality Inn & Sleep Inn Harrisonburg

Listing Price: $13,700,000

Number of Rooms
148
RevPAR
$73
Gross SF
146,361
Price/Room
$92,568
Price/Gross SF
$93.60
Year Built
2007

Investment Highlights

  • Quality Inn: Three-Story, Interior Corridor, Choice Platinum Award-Winning Hotel | Renovated with Premium Finishes in 2023 | Potential for Boutique and/or Upper Midscale Branding
  • The Quality Inn has earned GOLD status for the 2024 year, this means that hotel is in the top 10% of the brand
  • Sleep Inn: Four-Story, Interior Corridor, Modern Midscale Hotel | New Signage - "Designed to Dream" | Minimal PIP Remaining | Positioned to Compete with Upper Midscale Comp Set
  • Ideally Located off Interstate 81 and U.S. Route 33 (60,000+ Vehicles Per Day)
  • Less Than a Mile from James Madison University (22k+ Enrollment)
  • Minutes to Attractions Including Edith J. Carrier Arboretum, Atlantic Union Bank Center, JMU Convocation Center, and Several Museums
  • Short Drive to Massanutten Resort (325,000 Visitors Annually) and Shenandoah National Park (1.4M Visitors Annually)

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Quality Inn & Sleep Inn Harrisonburg Portfolio. The Harrisonburg Portfolio consists of two limited-service, midscale hotels ideally located near high density retail, restaurants, and businesses in the picturesque Shenandoah Valley, home to James Madison University. Total 148 rooms; total $3.6M top line revenue. Both hotels have value-add opportunities with minimal improvements and/or expansion of amenities. The Quality Inn has earned GOLD status for the 2024 year, this means that hotel is in the top 10% of the brand. Strong market demand drivers, demographic and economic growth boost the ability to grow revenue and market share upon acquisition. Harrisonburg, nestled in the picturesque Shenandoah Valley of Virginia, captivates visitors and residents alike with its unique blend of rich history, vibrant culture, and scenic beauty. Known as the "Friendly City," Harrisonburg exudes a welcoming atmosphere characterized by its diverse community and thriving arts scene. Home to James Madison University, the city enjoys a dynamic energy infused with academic vitality and youthful spirit. From its charming downtown adorned with quaint shops and eclectic eateries to its lush parks and recreational areas, Harrisonburg offers an array of experiences for outdoor enthusiasts and urban explorers alike. With a rich tapestry of festivals, cultural events, and historical landmarks, Harrisonburg embraces its heritage while embracing progress, making it a captivating destination and a beloved home for all who wander its streets. The Quality Inn & Sleep Inn Harrisonburg Portfolio represents the opportunity to two franchised hotels in a strong market near several demand drivers. Our Pro Forma analysis assumes continued modest growth supported by the increasing population and demand growth in Virginia's Shenandoah Valley.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

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