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Hotel-Motel

Staybridge Suites Lafayette-Airport

129 E Kaliste Saloom Rd, Lafayette, LA 70508

Listing Price: $7,500,000

Cap Rate
6.60%
Number of Rooms
118
RevPAR
$58
Gross SF
135,036
Price/Room
$63,559
RRM
3.01
Price/Gross SF
$55.54
Year Built
2009

Investment Overview

High Quality, Extended-Stay Asset in Excellent Location: The all-suite Staybridge Suites Lafayette is an upscale IHG-branded Hotel featuring 118 spacious guest rooms and several amenities of a well-positioned, Extended-Stay asset, including guest rooms with full kitchens, on-site fitness center, laundry facilities, 24-hour business center, and an outdoor pool. Located at the intersection of Kaliste Saloom Road and Pinhook Road, the property benefits from its accessibility to various local and regional demand generators. The Property is minutes away from the Lafayette Regional Airport, Lafayette General Medical Center, the University of Louisiana at Lafayette, and the Cajundome Convention Center.

Significant Repositioning Opportunity via Renovation: Although the Property has been incredibly well maintained, a new investors strategic investment should increase contract, transient, and group bookings. The Hotels future earnings are projected to improve dramatically as the change-of-ownership PIP will provide a catalyst for increased revenues and profitability.

Strong Revenues with Room for Growth: The subject property has achieved a total revenue greater than $2.5M through year-end 2020 and is expected to be a top performer amongst its STR defined Market Competitive Set. In 2019, the Hotel achieved a room revenue greater than $2.9M. After completing the outstanding Property Improvement Plan (PIP), a prospective buyer should be able to capitalize on the anticipated increase in RevPAR, not only benefiting from increased market share but also higher NOI flow-through.

Unencumbered of Debt with Management Optionality: This offering provides an investor the ability to acquire the Property unencumbered of debt and management. Initiatives to improve property operations exist for a new owner, including the opportunity to increase market penetration and employ various cost control and yield management strategies.

InterContinental Hotels Group-Branded Asset: The Hotel can maintain brand affiliation with InterContinental Hotels Group (IHG), one of the trusted names in hotels, and greatly benefits from the IHG Rewards loyalty program. For over 75 years, IHG has continued its leadership and brand recognition amongst travelers, owners, and franchisees. The Hotel benefits from its brand affiliation and its reservation system, driving increased demand and ultimately increased overall profitability.

Attractive Basis at Discount to Replacement Cost: The Hotel represents a unique opportunity to acquire the fee-simple interest in an asset located in Lafayettes bolstering oil center district at a price expected to be well below replacement cost.

Investment Highlights

  • 118-Room, All-Suite, Four-Story Hotel Built in 2009
  • Total Revenue above $2.5M for 2020 and Greater than $2.9M in 2019
  • Unencumbered of Debt with Management Optionality

Exclusively Listed By

Hotel-Motel

Staybridge Suites Lafayette-Airport

Listing Price: $7,500,000

Cap Rate
6.60%
Number of Rooms
118
RevPAR
$58
Gross SF
135,036
Price/Room
$63,559
RRM
3.01
Price/Gross SF
$55.54
Year Built
2009

Investment Highlights

  • 118-Room, All-Suite, Four-Story Hotel Built in 2009
  • Total Revenue above $2.5M for 2020 and Greater than $2.9M in 2019
  • Unencumbered of Debt with Management Optionality

Investment Overview

High Quality, Extended-Stay Asset in Excellent Location: The all-suite Staybridge Suites Lafayette is an upscale IHG-branded Hotel featuring 118 spacious guest rooms and several amenities of a well-positioned, Extended-Stay asset, including guest rooms with full kitchens, on-site fitness center, laundry facilities, 24-hour business center, and an outdoor pool. Located at the intersection of Kaliste Saloom Road and Pinhook Road, the property benefits from its accessibility to various local and regional demand generators. The Property is minutes away from the Lafayette Regional Airport, Lafayette General Medical Center, the University of Louisiana at Lafayette, and the Cajundome Convention Center.

Significant Repositioning Opportunity via Renovation: Although the Property has been incredibly well maintained, a new investors strategic investment should increase contract, transient, and group bookings. The Hotels future earnings are projected to improve dramatically as the change-of-ownership PIP will provide a catalyst for increased revenues and profitability.

Strong Revenues with Room for Growth: The subject property has achieved a total revenue greater than $2.5M through year-end 2020 and is expected to be a top performer amongst its STR defined Market Competitive Set. In 2019, the Hotel achieved a room revenue greater than $2.9M. After completing the outstanding Property Improvement Plan (PIP), a prospective buyer should be able to capitalize on the anticipated increase in RevPAR, not only benefiting from increased market share but also higher NOI flow-through.

Unencumbered of Debt with Management Optionality: This offering provides an investor the ability to acquire the Property unencumbered of debt and management. Initiatives to improve property operations exist for a new owner, including the opportunity to increase market penetration and employ various cost control and yield management strategies.

InterContinental Hotels Group-Branded Asset: The Hotel can maintain brand affiliation with InterContinental Hotels Group (IHG), one of the trusted names in hotels, and greatly benefits from the IHG Rewards loyalty program. For over 75 years, IHG has continued its leadership and brand recognition amongst travelers, owners, and franchisees. The Hotel benefits from its brand affiliation and its reservation system, driving increased demand and ultimately increased overall profitability.

Attractive Basis at Discount to Replacement Cost: The Hotel represents a unique opportunity to acquire the fee-simple interest in an asset located in Lafayettes bolstering oil center district at a price expected to be well below replacement cost.

Exclusively Listed By

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