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Hotel-Motel

Econo Lodge Inn & Suites Clinton

1413 Neptune Drive, Clinton, OK 73601

Listing Price: $1,625,000

Cap Rate
5.07%
Number of Rooms
94
RevPAR
$13
Price/Room
$17,287
Year Built
1985

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Group is pleased to present for sale to qualified investors the Econo Lodge Inn & Suites Clinton. The Choice Hotels International-branded Hotel is offered at $1,725,000 or $18,351 per key. This three-story, 94-room Hotel sits on four acres and is located just off Interstate 40 and Neptune Drive. The Property is poised to take advantage of nearby demand drivers such as the Lucky Star Casino (3.8 miles) and the Water-Zoo Indoor Water Park (0.5 miles). Operationally, the Hotel has underperformed the Oklahoma Area submarket achieving a RevPAR penetration of 54 percent through December 2020. The Hotel presents a new investor the opportunity to increase RevPAR through better management and incremental rate escalation. A deeper look at departmental expenses will show current inefficiencies in operations. This offering presents an ideal opportunity for an owner-operator to acquire an asset at a discount to replacement cost. Current expenses include provisions for a three percent management fee. The Hotel is offered fee simple, unencumbered by a management contract or debt.

Investment Highlights

  • Priced Below Replacement Cost at $18,351 Per Key
  • 94-Room, Economy Hotel Built in 1985
  • Offers Significant Upside to Increase Room Revenue to be Competitive with the Market
  • Ability for Hands-On-Owner-Operator to decrease Expenses & Increase Net Operating Income
  • Unencumbered by Management Contract or Debt

Exclusively Listed By

Broker of Record

  • Mark R. McCoy

    Regional Manager

    (817) 932-6100

    License(s) OK: 181981

    Oklahoma

Financing By

Hotel-Motel

Econo Lodge Inn & Suites Clinton

Listing Price: $1,625,000

Cap Rate
5.07%
Number of Rooms
94
RevPAR
$13
Price/Room
$17,287
Year Built
1985

Investment Highlights

  • Priced Below Replacement Cost at $18,351 Per Key
  • 94-Room, Economy Hotel Built in 1985
  • Offers Significant Upside to Increase Room Revenue to be Competitive with the Market
  • Ability for Hands-On-Owner-Operator to decrease Expenses & Increase Net Operating Income
  • Unencumbered by Management Contract or Debt

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Group is pleased to present for sale to qualified investors the Econo Lodge Inn & Suites Clinton. The Choice Hotels International-branded Hotel is offered at $1,725,000 or $18,351 per key. This three-story, 94-room Hotel sits on four acres and is located just off Interstate 40 and Neptune Drive. The Property is poised to take advantage of nearby demand drivers such as the Lucky Star Casino (3.8 miles) and the Water-Zoo Indoor Water Park (0.5 miles). Operationally, the Hotel has underperformed the Oklahoma Area submarket achieving a RevPAR penetration of 54 percent through December 2020. The Hotel presents a new investor the opportunity to increase RevPAR through better management and incremental rate escalation. A deeper look at departmental expenses will show current inefficiencies in operations. This offering presents an ideal opportunity for an owner-operator to acquire an asset at a discount to replacement cost. Current expenses include provisions for a three percent management fee. The Hotel is offered fee simple, unencumbered by a management contract or debt.

Exclusively Listed By

Broker of Record

  • Mark R. McCoy

    Regional Manager

    (817) 932-6100

    License(s): OK: 181981

    Oklahoma

Financing By

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