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Hotel-Motel

Quality Inn Wichita South

4849 S Laura Street, Wichita, KS 67216

Listing Price: Request For Offer

Number of Rooms
80
RevPAR
$21
Year Built
1985

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 South Wichita (‘Hotel’ or ‘Property’). The Choice Hotel International-branded Hotel is offered on a call for offer basis. The Quality Inn South Wichita is a 2-story, 80-room Hotel stationed at the interchange of Interstate 35 and Interstate 135. The Hotel features an outdoor pool, on-site laundry facilities, business center, and exercise room. The Property is comprised of both spacious king size rooms and double bed guest rooms, each equip with various room amenities such as microwaves, flat-screen television, and refrigerators. Wichita, Kansas is a major industrial hub and the largest city in Kansas. The city is a regional center of culture, media, and hosts several universities, large museums, theaters, parks, and entertainment venues. Annually, the city brings in over six million visitors through entertainment and leisure travel. Intrust Bank Arena (6.8 miles) and Century II Performing Arts & Convention Center (7.1 miles) are multi-purpose centers that host a variety of events throughout the year. The Hotel benefits from its proximity to Wichita State University (9.8 miles), the third largest post-secondary institute in the state, Friends University (6.6 miles), and Newman University (6.8 miles). Dwight D. Eisenhower National Airport is less than 10 miles from the Property. Wichita’s largest industry is aircraft manufacturing. With Spirit AeroSystems, Cessna Aircraft Co, Beechcraft, and Bombardier Learjet all operating less than 10 miles from the Property, the Hotel is poised to gain room occupancy through contractual and business travel. In 2019, the Hotel recorded room revenues over $633,100 and a net operating income above $123,800, or 19.2 percent as a percentage of total revenues, after a 4 percent capital replacement reserve and a 3 percent management fee reserve. In the same period, the Hotel underperformed the STR-defined competitive set and recorded a RevPAR penetration index of 58 percent, presenting an opportunity for a new investor to implement better revenue management strategies to expand market penetration and increase overall value.

Investment Highlights

  • Two-Story, 80-Room, Limited-Service Hotel
  • Expected to Trade Well Below Replacement Cost
  • Well-Positioned with Excellent Visibility from Interstate 35 and Interstate 135
  • Easily Accessible to Major Business and Leisure Demand Generators
  • Less than 10 Miles from Laredo International Airport
  • Ability to Add Value with the Implementations 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

Financing By

Hotel-Motel

Quality Inn Wichita South

Listing Price: Request For Offer

Number of Rooms
80
RevPAR
$21
Year Built
1985

Investment Highlights

  • Two-Story, 80-Room, Limited-Service Hotel
  • Expected to Trade Well Below Replacement Cost
  • Well-Positioned with Excellent Visibility from Interstate 35 and Interstate 135
  • Easily Accessible to Major Business and Leisure Demand Generators
  • Less than 10 Miles from Laredo International Airport
  • Ability to Add Value with the Implementations 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 qualified investors the Quality Inn South Wichita (‘Hotel’ or ‘Property’). The Choice Hotel International-branded Hotel is offered on a call for offer basis. The Quality Inn South Wichita is a 2-story, 80-room Hotel stationed at the interchange of Interstate 35 and Interstate 135. The Hotel features an outdoor pool, on-site laundry facilities, business center, and exercise room. The Property is comprised of both spacious king size rooms and double bed guest rooms, each equip with various room amenities such as microwaves, flat-screen television, and refrigerators. Wichita, Kansas is a major industrial hub and the largest city in Kansas. The city is a regional center of culture, media, and hosts several universities, large museums, theaters, parks, and entertainment venues. Annually, the city brings in over six million visitors through entertainment and leisure travel. Intrust Bank Arena (6.8 miles) and Century II Performing Arts & Convention Center (7.1 miles) are multi-purpose centers that host a variety of events throughout the year. The Hotel benefits from its proximity to Wichita State University (9.8 miles), the third largest post-secondary institute in the state, Friends University (6.6 miles), and Newman University (6.8 miles). Dwight D. Eisenhower National Airport is less than 10 miles from the Property. Wichita’s largest industry is aircraft manufacturing. With Spirit AeroSystems, Cessna Aircraft Co, Beechcraft, and Bombardier Learjet all operating less than 10 miles from the Property, the Hotel is poised to gain room occupancy through contractual and business travel. In 2019, the Hotel recorded room revenues over $633,100 and a net operating income above $123,800, or 19.2 percent as a percentage of total revenues, after a 4 percent capital replacement reserve and a 3 percent management fee reserve. In the same period, the Hotel underperformed the STR-defined competitive set and recorded a RevPAR penetration index of 58 percent, presenting an opportunity for a new investor to implement better revenue management strategies to expand market penetration and increase overall value.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KS: 00241410

    Kansas

Financing By

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