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Hotel-Motel

Days Inn & Suites Hutchinson

1420 N Lorraine St, Hutchinson, KS 67501

Listing Price: Request For Offer

Number of Rooms
67
RevPAR
$25
Year Built
1999

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to quali?ed investors the Days Inn & Suites Hutchinson (‘Hotel’ or ‘Property’) located in Hutchinson, Kansas. The Wyndham-branded Hotel is offered on a call for offers basis. The Days Inn & Suites Hutchinson is a 67-room, 3-story Hotel stationed at 1420 N Lorraine Street, along State Highway 61. This Hotel features an outdoor pool, a fitness center, laundry facilities, and a business center. The Property is comprised of both spacious one queen-sized bed or two queen size bed rooms, each equipped with various room amenities such as a ?at-screen television, a work desk, mini-refrigerator, and microwave. Hutchinson, Kansas is the largest city and county seat of Reno County and is located along the Arkansas River about 50 miles northwest of Wichita, Kansas. With the city's popular room generators in close proximity to the Property, this Hotel bene?ts from many key industries of the city. The region is known for its salt manufacturing and entertainment industries and attracts over 1.5 million visitors annually. Various business demand generators support corporate room demand near the Hotel, most notably, The Hutchinson Salt Company (4.3 miles), Cargill Salt (3.5 miles), and Morton Salt (4.8 miles), to name a few. Increased room demand can be attributed to the entertainment demand generators in the area, these include the Kansas Cosmosphere and Space Center (1.5 miles), a large museum and education center, and Strataca (4 miles), a salt mine museum and cavern system. Hutchinson, Kansas is the site of many annual events and fairs that increase room demand in the area. The Kansas State Fair is located less than 2 miles from the Property and draws over 350,000 visitors over a ten-day period. Furthermore, the National Junior College Athletic Association Division 1 Basketball Championship is held every March at the Hutchinson Sports Arena, one mile from the Hotel. In 2019, the limited-service Hotel recorded room revenues of over $623,000, an increase of 12 percent compared to prior year, and a net operating income above $128,000, or 20.5 percent of total revenues, after a 4 percent capital replacement reserve. More currently, the Hotel exceeded the competitive set in RevPAR, achieving a 114 percent RevPAR penetration index through 2020. A prospective buyer should be able to capitalize on the Hotel’s excellent location and market penetration, as well as increase revenues and operating income through strategic implementations of revenue management strategies.

Investment Highlights

  • Three-Story, 67-Room, Interior-Corridor Hotel
  • Easily Accessible and Highly Visible from State Highway 61
  • Situated Near Major Business and Leisure Demand Generators in the Vicinity
  • 114 Percent RevPAR Penetration Index Through 2020
  • Ability to Add Value with the Implementation of Better Revenue Management Strategies

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KS: 00241410

    Kansas

Hotel-Motel

Days Inn & Suites Hutchinson

Listing Price: Request For Offer

Number of Rooms
67
RevPAR
$25
Year Built
1999

Investment Highlights

  • Three-Story, 67-Room, Interior-Corridor Hotel
  • Easily Accessible and Highly Visible from State Highway 61
  • Situated Near Major Business and Leisure Demand Generators in the Vicinity
  • 114 Percent RevPAR Penetration Index Through 2020
  • Ability to Add Value with the Implementation of Better Revenue Management Strategies

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to quali?ed investors the Days Inn & Suites Hutchinson (‘Hotel’ or ‘Property’) located in Hutchinson, Kansas. The Wyndham-branded Hotel is offered on a call for offers basis. The Days Inn & Suites Hutchinson is a 67-room, 3-story Hotel stationed at 1420 N Lorraine Street, along State Highway 61. This Hotel features an outdoor pool, a fitness center, laundry facilities, and a business center. The Property is comprised of both spacious one queen-sized bed or two queen size bed rooms, each equipped with various room amenities such as a ?at-screen television, a work desk, mini-refrigerator, and microwave. Hutchinson, Kansas is the largest city and county seat of Reno County and is located along the Arkansas River about 50 miles northwest of Wichita, Kansas. With the city's popular room generators in close proximity to the Property, this Hotel bene?ts from many key industries of the city. The region is known for its salt manufacturing and entertainment industries and attracts over 1.5 million visitors annually. Various business demand generators support corporate room demand near the Hotel, most notably, The Hutchinson Salt Company (4.3 miles), Cargill Salt (3.5 miles), and Morton Salt (4.8 miles), to name a few. Increased room demand can be attributed to the entertainment demand generators in the area, these include the Kansas Cosmosphere and Space Center (1.5 miles), a large museum and education center, and Strataca (4 miles), a salt mine museum and cavern system. Hutchinson, Kansas is the site of many annual events and fairs that increase room demand in the area. The Kansas State Fair is located less than 2 miles from the Property and draws over 350,000 visitors over a ten-day period. Furthermore, the National Junior College Athletic Association Division 1 Basketball Championship is held every March at the Hutchinson Sports Arena, one mile from the Hotel. In 2019, the limited-service Hotel recorded room revenues of over $623,000, an increase of 12 percent compared to prior year, and a net operating income above $128,000, or 20.5 percent of total revenues, after a 4 percent capital replacement reserve. More currently, the Hotel exceeded the competitive set in RevPAR, achieving a 114 percent RevPAR penetration index through 2020. A prospective buyer should be able to capitalize on the Hotel’s excellent location and market penetration, as well as increase revenues and operating income through strategic implementations of revenue management strategies.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KS: 00241410

    Kansas

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