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Hotel-Motel

Econo Lodge Abilene

840 US Highway 80, Abilene, TX 79601

Listing Price: $2,300,000

Cap Rate
4.20%
Number of Rooms
104
RevPAR
$16
Price/Room
$22,115
RRM
3.24
Year Built
1957

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 Econo Lodge Inn & Suites Abilene (‘Hotel’ or ‘Property’). The Choice Hotels International-branded Hotel is offered at $2,300,000 or $22,115 per key. This four-building, two-story, 104-room Hotel is situated seconds away from downtown Abilene off Interstate 20 and Judge Ely Boulevard, which record over 33,000 cars per day. Abilene is home to seven colleges and universities, the two largest being Abilene Christian University (1.4 miles away) and Hardin-Simmons University (3.1 miles away). Additionally, Abilene has a multiple-year contract to host the Texas High School Rodeo State Finals, UTSA Grand Slam, The Texas Boys Powerlifting State Championships, and The World Bull Riders Championship. In 2020, the Hotel generated over $735 thousand in room revenues and maintained a healthy EBITDA of 32.3 percent or about $238 thousand, after a 4 percent reserve for capital replacements. Operationally, the Hotel recorded RevPAR increases over 22 percent year-over-year since 2018 and is expected to continue capturing market share. The current Hotel management recently leased the available restaurant and bar space to secure more revenues.

Investment Highlights

  • Four-Building, Two-Story, 104-Room, Economy Hotel
  • Expected to Trade Below Replacement Cost
  • Excellent Location near Abilene Christian University and Hardin-Simmons University
  • RevPAR Trending Upwards Over 22 Percent Year-Over-Year
  • Additional Revenue Stream through Restaurant Lease

Exclusively Listed By

Listing Price: $2,300,000

Cap Rate
4.20%
Number of Rooms
104
RevPAR
$16
Price/Room
$22,115
RRM
3.24
Year Built
1957

Investment Highlights

  • Four-Building, Two-Story, 104-Room, Economy Hotel
  • Expected to Trade Below Replacement Cost
  • Excellent Location near Abilene Christian University and Hardin-Simmons University
  • RevPAR Trending Upwards Over 22 Percent Year-Over-Year
  • Additional Revenue Stream through Restaurant Lease

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 Econo Lodge Inn & Suites Abilene (‘Hotel’ or ‘Property’). The Choice Hotels International-branded Hotel is offered at $2,300,000 or $22,115 per key. This four-building, two-story, 104-room Hotel is situated seconds away from downtown Abilene off Interstate 20 and Judge Ely Boulevard, which record over 33,000 cars per day. Abilene is home to seven colleges and universities, the two largest being Abilene Christian University (1.4 miles away) and Hardin-Simmons University (3.1 miles away). Additionally, Abilene has a multiple-year contract to host the Texas High School Rodeo State Finals, UTSA Grand Slam, The Texas Boys Powerlifting State Championships, and The World Bull Riders Championship. In 2020, the Hotel generated over $735 thousand in room revenues and maintained a healthy EBITDA of 32.3 percent or about $238 thousand, after a 4 percent reserve for capital replacements. Operationally, the Hotel recorded RevPAR increases over 22 percent year-over-year since 2018 and is expected to continue capturing market share. The current Hotel management recently leased the available restaurant and bar space to secure more revenues.

Exclusively Listed By

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