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Hotel-Motel

Hawthorn Suites Williston

3701 4th Ave W, Williston, ND 58801

Listing Price: $6,250,000

Cap Rate
5.30%
Number of Rooms
79
RevPAR
$42
Price/Room
$79,114
RRM
5.10
Year Built
2011

Investment Overview

High Quality, Extended-Stay Asset in Excellent Location: The all-suite Hawthorn Suites Williston is a midscale Wyndham-branded Hotel featuring 79 spacious guest rooms throughout four stories. The Hotel features a fitness center, business center, laundry facilities, indoor whirlpool, and on-site restaurant and bar. Located just off Highway 2, Williston’s busiest road by vehicles per day, provides excellent visibility and accessibility to major demand generators such as the downtown shopping district (2.6 miles), Missouri River (13.1 miles), and Williston State College (2.4 miles). Business Demand Generators: The Hotel attracts business contracts from its ideal location near multiple oil and gas companies such as Dresser Oil Tools (1.1 miles), Oilfield Safety Incorporated (0.7 miles), Northern Tubing Testing Incorporated (2.4 mile), and Oneok Energy (6.1 miles). Airport Proximity: The Hotel is near two international airports, the Sloulin Field International Airport (0.1 miles) and the Williston Basin International Airport (11.7 miles). Its proximity to each Airport allows the Hotel to capture lodging demand created by both business and transient travelers. Competitive RevPAR: The Hotel outperformed the STR-defined market competitive set and recorded a RevPAR of $42.49 in the trailing twelve-month period ending August 2021, resulting in a 15 percent premium to the STR defined market competitive set RevPAR of $36.97. Ideal Operations: The Hotel has operated efficiently, noting room revenues over $2.07 million in 2019. In the same period, the Property achieved a net operating income of $825.8 thousand or 39.5 percent of total income, after a four percent FFE reserve and three percent management fee reserve.

Investment Highlights

  • Four-Story, 79-Room, Extended-Stay Hotel Built in 2011
  • Highly Visible and Accessible from Highway 2, the Busiest Thoroughfare by Vehicles Per Day in Williston
  • Situated Near Multiple Oil and Gas Companies, Presenting an Opportunity to Further Occupancy Percentages through Contractual Business
  • Ability to Capitalize on All Air Travel in the Area through the Nearby Sloulin Field International Airport and Williston Basin International Airport
  • Significant RevPAR Penetration Index of 115 Percent Through the Trailing Twelve-Month Period Ending August 2021
  • Net Operating Income over $825.8 thousand or 39.5 Percent of Gross Revenues in 2019

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) ND: 10032

    North Dakota

Financing By

Hotel-Motel

Hawthorn Suites Williston

Listing Price: $6,250,000

Cap Rate
5.30%
Number of Rooms
79
RevPAR
$42
Price/Room
$79,114
RRM
5.10
Year Built
2011

Investment Highlights

  • Four-Story, 79-Room, Extended-Stay Hotel Built in 2011
  • Highly Visible and Accessible from Highway 2, the Busiest Thoroughfare by Vehicles Per Day in Williston
  • Situated Near Multiple Oil and Gas Companies, Presenting an Opportunity to Further Occupancy Percentages through Contractual Business
  • Ability to Capitalize on All Air Travel in the Area through the Nearby Sloulin Field International Airport and Williston Basin International Airport
  • Significant RevPAR Penetration Index of 115 Percent Through the Trailing Twelve-Month Period Ending August 2021
  • Net Operating Income over $825.8 thousand or 39.5 Percent of Gross Revenues in 2019

Investment Overview

High Quality, Extended-Stay Asset in Excellent Location: The all-suite Hawthorn Suites Williston is a midscale Wyndham-branded Hotel featuring 79 spacious guest rooms throughout four stories. The Hotel features a fitness center, business center, laundry facilities, indoor whirlpool, and on-site restaurant and bar. Located just off Highway 2, Williston’s busiest road by vehicles per day, provides excellent visibility and accessibility to major demand generators such as the downtown shopping district (2.6 miles), Missouri River (13.1 miles), and Williston State College (2.4 miles). Business Demand Generators: The Hotel attracts business contracts from its ideal location near multiple oil and gas companies such as Dresser Oil Tools (1.1 miles), Oilfield Safety Incorporated (0.7 miles), Northern Tubing Testing Incorporated (2.4 mile), and Oneok Energy (6.1 miles). Airport Proximity: The Hotel is near two international airports, the Sloulin Field International Airport (0.1 miles) and the Williston Basin International Airport (11.7 miles). Its proximity to each Airport allows the Hotel to capture lodging demand created by both business and transient travelers. Competitive RevPAR: The Hotel outperformed the STR-defined market competitive set and recorded a RevPAR of $42.49 in the trailing twelve-month period ending August 2021, resulting in a 15 percent premium to the STR defined market competitive set RevPAR of $36.97. Ideal Operations: The Hotel has operated efficiently, noting room revenues over $2.07 million in 2019. In the same period, the Property achieved a net operating income of $825.8 thousand or 39.5 percent of total income, after a four percent FFE reserve and three percent management fee reserve.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): ND: 10032

    North Dakota

Financing By

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