3211 Hotel Way, Longview, TX 75605
Marcus & Millichap's National Hospitality Group, as the exclusive representative of the seller, is pleased to present for sale to qualified investors the Hawthorn Suites Longview. The Wyndham-branded hotel is offered on a Request for Offers basis and sits on 3.05 acres 40 miles east of Tyler, Texas.
Located half a mile from Longview Regional Medical Center, the hotel is properly positioned to take advantage of business and leisure travel in the market. With a substantial amount of travel and daily commutes along East Loop 281 and Highway 259, the hotel is poised to capitalize on a combined daily traffic counts exceeding 50,000 cars per day.
This four-story, 84-room extended-stay hotel presents a new investor the chance to acquire this opportunistic asset within an East Texas hub famous for festivals, dining, and the historic downtown. As a major competitor in the market with 100% RevPAR index, the hotel is positioned to continue to experience positive cash flow. Furthermore, a deeper look at departmental expenses will show current inefficiencies in operations with considerable upside available for a hands-on prospective buyer to see an increase in EBITDA. Additionally, Extended stay hotels are the highest sought-after segment of the hospitality industry by the investor community due to their relatively better recession-proof model and resilience towards pandemic related downturns.
Current expenses include provisions for a three percent management fee. 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 Hawthorn Suites Longview. The Wyndham-branded hotel is offered on a Request for Offers basis and sits on 3.05 acres 40 miles east of Tyler, Texas.
Located half a mile from Longview Regional Medical Center, the hotel is properly positioned to take advantage of business and leisure travel in the market. With a substantial amount of travel and daily commutes along East Loop 281 and Highway 259, the hotel is poised to capitalize on a combined daily traffic counts exceeding 50,000 cars per day.
This four-story, 84-room extended-stay hotel presents a new investor the chance to acquire this opportunistic asset within an East Texas hub famous for festivals, dining, and the historic downtown. As a major competitor in the market with 100% RevPAR index, the hotel is positioned to continue to experience positive cash flow. Furthermore, a deeper look at departmental expenses will show current inefficiencies in operations with considerable upside available for a hands-on prospective buyer to see an increase in EBITDA. Additionally, Extended stay hotels are the highest sought-after segment of the hospitality industry by the investor community due to their relatively better recession-proof model and resilience towards pandemic related downturns.
Current expenses include provisions for a three percent management fee. The hotel is offered fee simple, unencumbered by a management contract or debt.
