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Hotel-Motel

Quality Inn Ashland

4708 Winchester Avenue, Ashland, KY 41101

Listing Price: $2,500,000

Cap Rate
10.00%
Number of Rooms
54
RevPAR
$22
Price/Room
$46,296
RRM
4.40
Year Built
1997

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 Quality Inn Ashland (‘Hotel’ or ‘Property’). The Choice Hotels International-branded Hotel is offered at $2,500,000 or $46,296 per key. Ashland is located in the northeast part of Kentucky and is included in the Huntington-Ashland Metropolitan Area, commonly referred to as the Tri-State Area, which recorded a population of 361,487 in 2017. Ashland is home to a variety of leisure and business demand generators such as the Paramount Arts Center (3.3 miles away), Mountain Health Arena (12.1 miles away), Camden Amusement Park (7.7 miles away), Marathon Oil Refinery (6.3 miles away), and multiple hospitals less than three miles from the Property. The Hotel’s sought-after location off Highway 23 allows the Property to capitalize on contract business from construction crews and Marathon Oil Refinery workers. The Hotel recorded a room revenue of $568,750 and maintained a healthy EBITDA of 43 percent of total revenues, which translates to about $250 thousand. Additionally, the Hotel underwent major renovations and offers a new investor the opportunity to acquire this asset without an extensive property improvement plan (PIP). Current expenses include provisions for a 3 percent management fee. The Hotel is offered fee simple, unencumbered by a management contract or debt.

Investment Highlights

  • Two-Story, 54-Room, Midscale Hotel Built in 1997 and Renovated in 2019 and 2020
  • Priced Below Replacement Cost at $46,296 Per Key
  • Located within the Huntington-Ashland Metropolitan Area
  • Excellent EBITDA of 43 Percent of Total Revenues
  • Offered Fee Simple, Unencumbered by Management Contract or Debt

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (513) 878-7733

    License(s) KY: 242197

    Kentucky

Listing Price: $2,500,000

Cap Rate
10.00%
Number of Rooms
54
RevPAR
$22
Price/Room
$46,296
RRM
4.40
Year Built
1997

Investment Highlights

  • Two-Story, 54-Room, Midscale Hotel Built in 1997 and Renovated in 2019 and 2020
  • Priced Below Replacement Cost at $46,296 Per Key
  • Located within the Huntington-Ashland Metropolitan Area
  • Excellent EBITDA of 43 Percent of Total Revenues
  • 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 Quality Inn Ashland (‘Hotel’ or ‘Property’). The Choice Hotels International-branded Hotel is offered at $2,500,000 or $46,296 per key. Ashland is located in the northeast part of Kentucky and is included in the Huntington-Ashland Metropolitan Area, commonly referred to as the Tri-State Area, which recorded a population of 361,487 in 2017. Ashland is home to a variety of leisure and business demand generators such as the Paramount Arts Center (3.3 miles away), Mountain Health Arena (12.1 miles away), Camden Amusement Park (7.7 miles away), Marathon Oil Refinery (6.3 miles away), and multiple hospitals less than three miles from the Property. The Hotel’s sought-after location off Highway 23 allows the Property to capitalize on contract business from construction crews and Marathon Oil Refinery workers. The Hotel recorded a room revenue of $568,750 and maintained a healthy EBITDA of 43 percent of total revenues, which translates to about $250 thousand. Additionally, the Hotel underwent major renovations and offers a new investor the opportunity to acquire this asset without an extensive property improvement plan (PIP). Current expenses include provisions for a 3 percent management fee. The Hotel is offered fee simple, unencumbered by a management contract or debt.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (513) 878-7733

    License(s): KY: 242197

    Kentucky

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