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Hotel-Motel

Quality Inn & Suites Craig

300 CO-13, Craig, CO 81625

Listing Price: $5,100,000

Cap Rate
11.91%
Number of Rooms
152
RevPAR
$35
Gross SF
53,890
Price/Room
$33,553
RRM
2.65
Price/Gross SF
$94.64
Year Built
1981

Investment Overview

Marcus & Millichaps Hospitality Division, as an exclusive representative of the seller, is pleased to present for sale the Quality Inn & Suites Craig, a 152-room, two-story interior corridor hotel located in Craig, Colorado. The property is conveniently located at the intersection of State Highway 13 and U.S. Route 40, one mile from Memorial Regional Health hospital and two miles southwest of Downtown.

The Quality Inn & Suites Craig was renovated in 2018, therefore the PIP is expected to be modest for retaining the brand. The property is well-equipped with several common area and guest room amenities that help attract a mix of business and leisure travelers. Amenities include an onsite restaurant & bar, indoor pool & hot tub, large event space and meeting rooms, fitness center and business center.

This is an investment opportunity with consistent and stable revenue history (including year 2020). Both the property and the Craig market have displayed resilience through the COVID-19 pandemic. The property is offered well below replacement cost at $33k per key, with a low room revenue multiplier and healthy return metrics. Upside can be attained through expense management.

Investment Highlights

  • Close Proximity to Museum of NW Colorado, Wyman Museum and Cedar Mountain
  • Located Along Highway 13, Off of U.S. Route 40
  • Priced Well Below Replacement Cost ($33k Per Key)
  • Consistent & Stable Revenue for the Last Couple Years
  • 2.6x Room Revenue Multiplier
  • Renovated in 2018 | Minimal PIP Anticipated

Exclusively Listed By

Broker of Record

  • Adam A. Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s) CO: ER100091205

    Colorado

Hotel-Motel

Quality Inn & Suites Craig

Listing Price: $5,100,000

Cap Rate
11.91%
Number of Rooms
152
RevPAR
$35
Gross SF
53,890
Price/Room
$33,553
RRM
2.65
Price/Gross SF
$94.64
Year Built
1981

Investment Highlights

  • Close Proximity to Museum of NW Colorado, Wyman Museum and Cedar Mountain
  • Located Along Highway 13, Off of U.S. Route 40
  • Priced Well Below Replacement Cost ($33k Per Key)
  • Consistent & Stable Revenue for the Last Couple Years
  • 2.6x Room Revenue Multiplier
  • Renovated in 2018 | Minimal PIP Anticipated

Investment Overview

Marcus & Millichaps Hospitality Division, as an exclusive representative of the seller, is pleased to present for sale the Quality Inn & Suites Craig, a 152-room, two-story interior corridor hotel located in Craig, Colorado. The property is conveniently located at the intersection of State Highway 13 and U.S. Route 40, one mile from Memorial Regional Health hospital and two miles southwest of Downtown.

The Quality Inn & Suites Craig was renovated in 2018, therefore the PIP is expected to be modest for retaining the brand. The property is well-equipped with several common area and guest room amenities that help attract a mix of business and leisure travelers. Amenities include an onsite restaurant & bar, indoor pool & hot tub, large event space and meeting rooms, fitness center and business center.

This is an investment opportunity with consistent and stable revenue history (including year 2020). Both the property and the Craig market have displayed resilience through the COVID-19 pandemic. The property is offered well below replacement cost at $33k per key, with a low room revenue multiplier and healthy return metrics. Upside can be attained through expense management.

Exclusively Listed By

Broker of Record

  • Adam A. Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s): CO: ER100091205

    Colorado

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