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Hotel-Motel

Candlewood Suites New Iberia

2600 Highway 14, New Iberia, LA 70560

Listing Price: $6,000,000

Cap Rate
12.51%
Number of Rooms
83
RevPAR
$55
Price/Room
$72,289
RRM
3.59
Year Built
2010

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 Candlewood Suites New Iberia (‘Hotel’ or ‘Property’). The InterContinental Hotels Group-branded Hotel is offered at $6,000,000 or $72,289 per key. This three-story, 83-room Hotel is in the southwest region of New Iberia and sits on 1.52 acres. With a substantial amount of travel and daily commutes along Highway 14 and Highway 90 East, the Hotel is poised to capitalize on a combined daily traffic count exceeding 49,800. This ideal location allows the Hotel to benefit from demand generators in the area, such as annual festivals, local tourism, and business travel. The Port of Iberia, Greater Iberia Chamber of Commerce, Acadia Regional Airport, and The Event Center New Iberia are less than 10 miles from the Property. Located 21 miles from Lafayette, the city of New Iberia is the largest city and parish seat of the Iberia Parish in Louisiana. Historically, the extended-stay Hotel has significantly outperformed the STR-defined market competitive set and posted a RevPAR penetration index of 188 percent in 2020. For the same period, the Hotel achieved room revenues above $1.477 million while maintaining a net operating income of over 44 percent of gross revenues, which translates to about $658,700 in EBITDA. As a leader in its market, room revenues have increased to approximately $1.67 million for the trailing twelve-month period ending May 2021. Current expenses include provisions for a 4 percent capital replacement reserve and a 3 percent management fee. The Hotel is offered fee simple, unencumbered by a management contract or debt.

Investment Highlights

  • 83-Room, Extended-Stay, Midscale Hotel Built in 2010
  • Located within the Lafayette Metropolitan Statistical Area
  • Priced Below Replacement Cost at $72,289 Per Key
  • Significantly Outperforming STR-Defined Market Competitive Set
  • Room Revenues Trending Upwards Through May 2021
  • Offered Fee Simple, Unencumbered by Management Contract or Debt

Exclusively Listed By

Hotel-Motel

Candlewood Suites New Iberia

Listing Price: $6,000,000

Cap Rate
12.51%
Number of Rooms
83
RevPAR
$55
Price/Room
$72,289
RRM
3.59
Year Built
2010

Investment Highlights

  • 83-Room, Extended-Stay, Midscale Hotel Built in 2010
  • Located within the Lafayette Metropolitan Statistical Area
  • Priced Below Replacement Cost at $72,289 Per Key
  • Significantly Outperforming STR-Defined Market Competitive Set
  • Room Revenues Trending Upwards Through May 2021
  • Offered Fee Simple, Unencumbered by 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 Candlewood Suites New Iberia (‘Hotel’ or ‘Property’). The InterContinental Hotels Group-branded Hotel is offered at $6,000,000 or $72,289 per key. This three-story, 83-room Hotel is in the southwest region of New Iberia and sits on 1.52 acres. With a substantial amount of travel and daily commutes along Highway 14 and Highway 90 East, the Hotel is poised to capitalize on a combined daily traffic count exceeding 49,800. This ideal location allows the Hotel to benefit from demand generators in the area, such as annual festivals, local tourism, and business travel. The Port of Iberia, Greater Iberia Chamber of Commerce, Acadia Regional Airport, and The Event Center New Iberia are less than 10 miles from the Property. Located 21 miles from Lafayette, the city of New Iberia is the largest city and parish seat of the Iberia Parish in Louisiana. Historically, the extended-stay Hotel has significantly outperformed the STR-defined market competitive set and posted a RevPAR penetration index of 188 percent in 2020. For the same period, the Hotel achieved room revenues above $1.477 million while maintaining a net operating income of over 44 percent of gross revenues, which translates to about $658,700 in EBITDA. As a leader in its market, room revenues have increased to approximately $1.67 million for the trailing twelve-month period ending May 2021. Current expenses include provisions for a 4 percent capital replacement reserve and a 3 percent management fee. The Hotel is offered fee simple, unencumbered by a management contract or debt.

Exclusively Listed By

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