3015 8th Ave, Evans, CO 80620
This 96 room Rodeway Inn is located at the junction of Highway 34 and 85 - great location!
Hotel has averaged an Occupancy of about 74% over the past 3 years.
Even in the COVID 19 pandemic, the Occupancy for the first four months of 2020 was over 65%!
Hotel has a very high Net Operating Margin of 47.6% over the past three years (2017, 2018, and 2019).
I have reduced the NOI margin in the Five Year Pro Forma down to under 40% for marketing purposes.
However, the current Owner tells me a new Owner can continue to operate at these higher NOI margins due to many weekly / Monthly guests.
This keeps costs down, since there is less check-in/check-out in the rooms.
The hotel has been run by a 3rd part Management Company.
Greeley MSA ranks No. 3 nationwide for one-year population growth rate.
Development follows population growth and this generates more demand drivers for businesses like hotels.
This 96 room Rodeway Inn is located at the junction of Highway 34 and 85 - great location!
Hotel has averaged an Occupancy of about 74% over the past 3 years.
Even in the COVID 19 pandemic, the Occupancy for the first four months of 2020 was over 65%!
Hotel has a very high Net Operating Margin of 47.6% over the past three years (2017, 2018, and 2019).
I have reduced the NOI margin in the Five Year Pro Forma down to under 40% for marketing purposes.
However, the current Owner tells me a new Owner can continue to operate at these higher NOI margins due to many weekly / Monthly guests.
This keeps costs down, since there is less check-in/check-out in the rooms.
The hotel has been run by a 3rd part Management Company.
Greeley MSA ranks No. 3 nationwide for one-year population growth rate.
Development follows population growth and this generates more demand drivers for businesses like hotels.
