365 TX-46, New Braunfels, TX 78130
Marcus & Millichap's National Hospitality Group, as the exclusive representative of the seller, is pleased to present for sale to qualified investors the La Quinta Inn & Suites New Braunfels. The Wyndham Hotels & Resorts-branded hotel is offered at $4,900,000 or $63,636 PPK and sits on 1.76 acres
Located in the Greater San Antonio MSA the hotel is less than a 30-minute drive from the San Antonio International Airport and is perfectly positioned to take advantage of the leisure travel demand created by Schlitterbahn waterpark, located two miles away. Additionally, with nearby Interstate travel exceeding 104,000 cars per day, the La Quinta Inn & Suites New Braunfels is poised to capitalize on transient hotel demand in the area.
This three-story, 77-room hotel gives a new investor the chance to acquire a well-maintained asset within a market that has shown growth, offers additional upside, and is located near a major MSA. The hotel is currently operating at 83 percent RevPAR penetration and presents the opportunity for rate escalation that can immediately pass through to the bottom-line and increase EBITDA. The hotel is well-kept with very little, if any, deferred maintenance.
The current ownership renovated the property extensively in 2018/2019 to meet requirements for Wyndham LQUP property improvement plan (PIP) New ownership can expect estimated PIP transfer and renovations cost to be between $50,000- $100,000.
Current expenses include provisions for a 4 percent capital replacement reserve. The hotel is offered fee simple, unencumbered by a management contract or debt.
Marcus & Millichap's National Hospitality Group, as the exclusive representative of the seller, is pleased to present for sale to qualified investors the La Quinta Inn & Suites New Braunfels. The Wyndham Hotels & Resorts-branded hotel is offered at $4,900,000 or $63,636 PPK and sits on 1.76 acres
Located in the Greater San Antonio MSA the hotel is less than a 30-minute drive from the San Antonio International Airport and is perfectly positioned to take advantage of the leisure travel demand created by Schlitterbahn waterpark, located two miles away. Additionally, with nearby Interstate travel exceeding 104,000 cars per day, the La Quinta Inn & Suites New Braunfels is poised to capitalize on transient hotel demand in the area.
This three-story, 77-room hotel gives a new investor the chance to acquire a well-maintained asset within a market that has shown growth, offers additional upside, and is located near a major MSA. The hotel is currently operating at 83 percent RevPAR penetration and presents the opportunity for rate escalation that can immediately pass through to the bottom-line and increase EBITDA. The hotel is well-kept with very little, if any, deferred maintenance.
The current ownership renovated the property extensively in 2018/2019 to meet requirements for Wyndham LQUP property improvement plan (PIP) New ownership can expect estimated PIP transfer and renovations cost to be between $50,000- $100,000.
Current expenses include provisions for a 4 percent capital replacement reserve. The hotel is offered fee simple, unencumbered by a management contract or debt.
