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Hotel-Motel

Fairfield Inn & Suites Pecos

92 Raul Florez Boulevard, Pecos, TX 79772

Listing Price: Request For Offer

Number of Rooms
87
RevPAR
$45
Year Built
2016

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 Fairfield Inn & Suites Pecos (‘Hotel’ or ‘Property’). The Marriott International-branded Hotel is on a call for offers basis, contact agent for more information. Pecos, Texas is situated in West Texas, 208 miles east of El Paso and 76 west of Odessa, and the heart of the Permian Basin. The greater Permian Basin accounts for nearly 40 percent of all oil production in the United States and nearly 15 percent of its natural gas production, according to the Federal Reserve Bank of Dallas. Due to the Property’s ideal location, the Hotel has acquired significant government oil and gas contracts, enabling the Hotel to observe significant increases in occupancy and room revenues. Furthermore, Pecos’s population has increased by nearly 20 percent since 2010, inspiring the construction of a new $115 million hospital and $17 million recreation center. The Hotel is located off Interstate 20, a major east-west Highway running from Kent, Texas to Florence, South Carolina. Interstate 20 records over 10,280 vehicles per day and offers excellent visibility to the Property. The Hotel’s sought-after location allows for easy access to many leisure and business demand generators such as the Texas Rodeo Hall of Fame at Buck Jackson Arena (2.1 miles), West of the Pecos Museum (2.8 miles), and the Reeves County Hospital District (1.4 miles). Fairfield Inn & Suites by Marriott offers a Hotel design experience that is unique from its competitors. The Property greatly benefits from their Marriott International Brand Affiliation, which provides a powerful reservation system, and strong brand loyalty created by the popular Marriott Bonvoy program. Historically, the Hotel recorded exceptional room revenues over $5.7 million in 2018 and $3.675 million in 2019 and operated efficiently, achieving net operating incomes over $3.34 million (2018) and $1.577 million (2019) after a three percent reserve for management fees and a four percent capital replacement reserve. Although Pecos’s hospitality market has struggled through 2020, market room revenues are steadily increasing and are expected to return to previous records. The Hotel is offered fee simple, unencumbered by a management contract or debt.

Investment Highlights

  • 87-Room, Three-Story, Marriott-Branded Hotel Built in 2016
  • Expected to Trade Below Replacement Cost
  • Excellent Location off Interstate 20
  • Located within the Permian Basin
  • Superior Brand-Affiliation
  • Room Revenues Trending Upwards
  • Offered Fee Simple, Unencumbered by a Management Contract or Debt

Exclusively Listed By

Hotel-Motel

Fairfield Inn & Suites Pecos

Listing Price: Request For Offer

Number of Rooms
87
RevPAR
$45
Year Built
2016

Investment Highlights

  • 87-Room, Three-Story, Marriott-Branded Hotel Built in 2016
  • Expected to Trade Below Replacement Cost
  • Excellent Location off Interstate 20
  • Located within the Permian Basin
  • Superior Brand-Affiliation
  • Room Revenues Trending Upwards
  • 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 Fairfield Inn & Suites Pecos (‘Hotel’ or ‘Property’). The Marriott International-branded Hotel is on a call for offers basis, contact agent for more information. Pecos, Texas is situated in West Texas, 208 miles east of El Paso and 76 west of Odessa, and the heart of the Permian Basin. The greater Permian Basin accounts for nearly 40 percent of all oil production in the United States and nearly 15 percent of its natural gas production, according to the Federal Reserve Bank of Dallas. Due to the Property’s ideal location, the Hotel has acquired significant government oil and gas contracts, enabling the Hotel to observe significant increases in occupancy and room revenues. Furthermore, Pecos’s population has increased by nearly 20 percent since 2010, inspiring the construction of a new $115 million hospital and $17 million recreation center. The Hotel is located off Interstate 20, a major east-west Highway running from Kent, Texas to Florence, South Carolina. Interstate 20 records over 10,280 vehicles per day and offers excellent visibility to the Property. The Hotel’s sought-after location allows for easy access to many leisure and business demand generators such as the Texas Rodeo Hall of Fame at Buck Jackson Arena (2.1 miles), West of the Pecos Museum (2.8 miles), and the Reeves County Hospital District (1.4 miles). Fairfield Inn & Suites by Marriott offers a Hotel design experience that is unique from its competitors. The Property greatly benefits from their Marriott International Brand Affiliation, which provides a powerful reservation system, and strong brand loyalty created by the popular Marriott Bonvoy program. Historically, the Hotel recorded exceptional room revenues over $5.7 million in 2018 and $3.675 million in 2019 and operated efficiently, achieving net operating incomes over $3.34 million (2018) and $1.577 million (2019) after a three percent reserve for management fees and a four percent capital replacement reserve. Although Pecos’s hospitality market has struggled through 2020, market room revenues are steadily increasing and are expected to return to previous records. The Hotel is offered fee simple, unencumbered by a management contract or debt.

Exclusively Listed By

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