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 by Wyndham Farmington (‘Hotel’ or ‘Property’) located in Farmington, New Mexico. The Wyndham Hotels & Resorts-branded Hotel is offered at $5,900,000 or $56,190.47 per key. The La Quinta Inn by Wyndham Farmington is a two-story hotel with 105 rooms, located at 675 Scott Avenue in Farmington, New Mexico. The Hotel is easily accessible from US 64. The area sees an annual average daily traffic of approximately 30,000 vehicles. Various common area amenities at the Property include a business center, breakfast area, coin laundry units, barbecue grills, bus/truck parking. Renovations for an upcoming fitness center began in 2024. Farmington, New Mexico, is the principal city in the Farmington Metropolitan Statistical Area (MSA), covering all of San Juan County. With a population of approximately 120,000, this MSA serves as a key economic hub for the Four Corners region, where New Mexico, Arizona, Utah, and Colorado converge. The economy is primarily driven by the energy sector, including oil, natural gas, and coal, alongside agriculture, healthcare, and retail. Farmington’s strategic location and access to major highways like U.S. Route 550 and U.S. Route 64 provide direct connections to Albuquerque and the surrounding Four Corners area. Farmington is approximately 180 miles from Albuquerque, New Mexico and 52 miles from Durango, Colorado. Notable employers in the area include Raytheon’s Dine Facility, which employs over 350 staff, and PESCO, just 5.4 miles away, providing essential equipment and services to the booming on-shore oil and natural gas industries with a workforce of more than 290. Hilcorp Energy Company, the largest operator in the basin, is located a mere 3.8 miles from the property, while Enterprise Products, only 2.7 miles away, plays a crucial role in transporting and processing energy. Additionally, the Navajo Agricultural Products Industry, one of the largest irrigated farms in the U.S., is situated just 7.6 miles from Farmington, further enhancing the area’s economic landscape. The presence of key employers like the Four Corners Power Plant, with over 300 employees just 19.6 miles away, underscores the region’s economic stability. The Property is visible from U.S 64 and situated near some of New Mexico’s best areas for outdoor recreation and tourism. The Northern Edge Navajo Casino, located 4.4 miles away, features over 750 slot machines and table games, providing entertainment for visitors. The region is also home to the Aztec Ruins National Monument (13.8 miles) and the Navajo Lake State Park (38.0 miles), which may attract those interested in cultural and outdoor experiences. Golf enthusiasts often visit the Pinon Hills Golf Course, recognized as a top municipal course by Golf Digest, just 3.9 miles from the city. Additionally, events like the Connie Mack World Series, attracts around 10,000 to 15,000 attendees throughout the tournament and is a highlight of the local summer sports calendar, drawing fans and families, and often includes festivities that celebrate baseball culture, occurring 1.0 mile away, contribute to local activity. San Juan Regional Medical Center, just 1.6 miles away, has 197 beds and is also one of the larger employers within San Juan County. Additionally, the New Mexico State University Agricultural Science Center (9.1 miles) draws students, researchers, and agricultural professionals to the area, while San Juan College, only 4.2 miles away, boasts an enrollment of approximately 4,000 students. The Hotel's current RevPAR index of 81 percent indicates untapped potential. With strategic revenue management and marketing, a new owner could raise the index to 85-90%, driving room revenues to approximately $1.98-2.34M. This improvement would enhance ROI and increase asset value, offering substantial upside for investors.