Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the 50-room Econo Lodge in Belle Fourche, South Dakota. Offered at $2,350,000, or $47,000 per room, the property combines recent capital improvements, an on-site manager’s apartment, and proximity to the Black Hills. A recipient of the Choice Gold Award, the hotel offers an established operating platform for an investor seeking a limited-service hospitality asset in western South Dakota. The property has undergone extensive renovations, including replacement of carpeting with hard-surface flooring, installation of all new PTAC units, and a new roof in 2022. These improvements enhance the guest experience and address several major building and guestroom components. The on-site manager’s apartment provides flexibility for an owner-operator or resident manager, supporting direct operational oversight. Located less than 30 minutes from Black Hills National Forest, the hotel is positioned to serve the region’s tourism and outdoor recreation demand. The property recorded a 2025 RevPAR index of 62.6, highlighting meaningful upside potential through capturing a greater share of its competitive set’s business. With both occupancy and average daily rate trailing the competitive set, new ownership has an opportunity to narrow this gap through targeted sales efforts, active revenue management, and promotion of the hotel’s extensive renovations. These improvements, paired with hands-on operational oversight, provide a foundation for strengthening the property’s competitive position and increasing RevPAR penetration.