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Hotel-Motel

Super 8 Hope

2000 Holiday Drive, Hope, AR 71801

Listing Price: $3,200,000

Cap Rate
1.40%
Number of Rooms
100
RevPAR
$17
Price/Room
$32,000
Year Built
1974

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Super 8 Hope Arkansas (‘Hotel’ or ‘Property’). The Wyndham branded Hotel is offered at $3,200,000 or $32,000 per key. This offering is being sold with two parcels including four acres of adjacent land large enough for potential development. The two-story, 100-room Hotel is situated, with excellent visibility, off Interstate 30 and North Hervey Street which account for over 42,500 car per day. Hope is home to many demand drivers such as Arkansas Trucking Academy (4.4 miles) – the first public trucking academy in Arkansas, offering 20 courses throughout the year, Dansons USA (5.3 miles) – the country’s largest barbecue wood pellet mill and distribution center, the annual Watermelon Festival (2.1 miles) – hosts over 40,000 visitors, and the Hope Municipal Airport (4.2 miles). In 2019, the Hotel’s RevPAR was approximately $24.95 and achieved room revenues just under $920,000. In the same period, the Property outperformed the STR-defined competitive market set and attained a RevPAR penetration index of 116 percent. An opportunity exists for a new investor to maximize profits through moderate cost control initiatives and various yield management strategies. The hotel underwent $90,000 in renovations and updated the property and new case goods. The new investor is expected to have a minimal property improvement plan. Current expenses include provisions for a 4 percent capital replacement reserve. The Hotel is offered fee simple, unencumbered by a management contract or debt.

Investment Highlights

  • Two-Story, 100-Room, Exterior Corridor Hotel
  • Priced Below Replacement Cost at $32,000 per key
  • Located, with Great Visibility, off Interstate 30, the Largest Highway in Hope
  • RevPAR Penetration Index of 116 Percent
  • Offered Fee Simple, Unencumbered by a Management Contract or Debt

Exclusively Listed By

Broker of Record

  • Anne Williams

    First Vice President Investments

    (901) 486-4376

    License(s) AR: PB00066390

    Arkansas

Listing Price: $3,200,000

Cap Rate
1.40%
Number of Rooms
100
RevPAR
$17
Price/Room
$32,000
Year Built
1974

Investment Highlights

  • Two-Story, 100-Room, Exterior Corridor Hotel
  • Priced Below Replacement Cost at $32,000 per key
  • Located, with Great Visibility, off Interstate 30, the Largest Highway in Hope
  • RevPAR Penetration Index of 116 Percent
  • Offered Fee Simple, Unencumbered by a Management Contract or Debt

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Super 8 Hope Arkansas (‘Hotel’ or ‘Property’). The Wyndham branded Hotel is offered at $3,200,000 or $32,000 per key. This offering is being sold with two parcels including four acres of adjacent land large enough for potential development. The two-story, 100-room Hotel is situated, with excellent visibility, off Interstate 30 and North Hervey Street which account for over 42,500 car per day. Hope is home to many demand drivers such as Arkansas Trucking Academy (4.4 miles) – the first public trucking academy in Arkansas, offering 20 courses throughout the year, Dansons USA (5.3 miles) – the country’s largest barbecue wood pellet mill and distribution center, the annual Watermelon Festival (2.1 miles) – hosts over 40,000 visitors, and the Hope Municipal Airport (4.2 miles). In 2019, the Hotel’s RevPAR was approximately $24.95 and achieved room revenues just under $920,000. In the same period, the Property outperformed the STR-defined competitive market set and attained a RevPAR penetration index of 116 percent. An opportunity exists for a new investor to maximize profits through moderate cost control initiatives and various yield management strategies. The hotel underwent $90,000 in renovations and updated the property and new case goods. The new investor is expected to have a minimal property improvement plan. Current expenses include provisions for a 4 percent capital replacement reserve. The Hotel is offered fee simple, unencumbered by a management contract or debt.

Exclusively Listed By

Broker of Record

  • Anne Williams

    First Vice President Investments

    (901) 486-4376

    License(s): AR: PB00066390

    Arkansas

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