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 Sleep Inn & Suites Near Fort Hood (‘Hotel’ or ‘Property’). The Choice-branded Hotel is offered at $5,500,000 or $68,750 per key. In 2020, Killeen broke a seven-year record of single-family building permits and ranks as the 6th fastest growing economy in the U.S. These record-breaking statistics can be attributed to the growth of Texas’ largest military base, Fort Hood – which is located less than five miles from the Property. Fort Hood houses nearly 65,000 soldiers and family members and has a 25-billion-dollar impact on the state economy. Additionally, the Hotel is located off Interstate 14, which records over 65,000 cars per day; allowing the Hotel to take advantage of other key demand generators in the vicinity, such as the Metroplex Hospital (5.7 miles), Central Texas College (6.2 miles), Texas A&M University – Central Texas (4.7 miles), and the Lions Club Water Park (2.2 miles). Killeen’s central location is about 60 miles from Austin and Waco, making it the perfect stop for travelers. The Hotel completed a full property improvement plan in March 2019 and has experienced RevPAR growth shown by the increase in RevPAR penetration. For the twelve-month period ending March 2021, the Hotel outperformed the STR defined competitive set and posted a RevPAR penetration index of 116 percent while recording an average occupancy percentage of 78.1 percent. In the same period, the Hotel achieved revenues above $1,357,000 room revenue. The expenses include provisions for a 4 percent capital replacement reserve and a 3 percent management fee.