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Hotel-Motel

Quality Inn And Conference Center - Richmond

5501 National Rd E, Richmond, IN 47374

Listing Price: Request For Offer

Number of Rooms
134
RevPAR
$35
Year Built
1972

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 and Conference Center (‘Hotel’ or ‘Property’) in Richmond, Indiana. The Choice Hotels International-branded Hotel will be sold at auction on the Ten-X platform, please contact the listing agent for more information. The Quality Inn and Conference Center is a 134-room, four-story Hotel stationed at 5501 National Road, near the busy intersection of Interstate 70 and Highway 40. This Hotel features an indoor pool, exercise room, business center, guest laundry facilities, and over 5,000 square feet of meeting and event space. Richmond, Indiana is located in the east-central region of the state on the border shared with Ohio and is included in the Dayton, Ohio metropolitan area. The city is less than two hours from Indianapolis, Indiana, and Dayton and Cincinnati, Ohio. Tourism in the area is attributed to regional trails like the Heartland Wine and Ale Trail (3.8 miles), Chocolate Trail (0.2 miles), and the Murals Trail (0.2 miles). Other leisure demands include the Hayes Arboretum (1.3 miles), Hoosier Hill (15 miles), the Music Garden (2.7 miles), and the Model T Ford Museum (3.9 miles). During the trailing 12-months ending September 2021, the limited-service Hotel recorded room revenues of over $1.7 million and a net operating income above $632 thousand, or 36.9 percent as a percentage of total revenues, after a four percent capital replacement reserve. RevPAR has continued to steadily increase year-over-year, averaging over 18.5 percent from 2019 through September 2021. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR from better revenue management, not only benefiting from increased market share but also higher NOI flow-through.

Investment Highlights

  • Four-Story, 134-Room, Midscale Hotel with over 5,000 Square Feet of Convention Center Space
  • Expected to Trade Below Replacement Cost
  • Highly Visible and Easily Accessible from Highway 40
  • Situated Within the Dayton Metropolitan Area, Less than Two Hours from Indianapolis, Indiana and Cincinnati, Ohio
  • Revenues Trending Upwards and have Increased Over 80 Percent in the Trailing 12-Month September 2021 Period Compared to Year-End 2020

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Hotel-Motel

Quality Inn And Conference Center - Richmond

Listing Price: Request For Offer

Number of Rooms
134
RevPAR
$35
Year Built
1972

Investment Highlights

  • Four-Story, 134-Room, Midscale Hotel with over 5,000 Square Feet of Convention Center Space
  • Expected to Trade Below Replacement Cost
  • Highly Visible and Easily Accessible from Highway 40
  • Situated Within the Dayton Metropolitan Area, Less than Two Hours from Indianapolis, Indiana and Cincinnati, Ohio
  • Revenues Trending Upwards and have Increased Over 80 Percent in the Trailing 12-Month September 2021 Period Compared to Year-End 2020

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 and Conference Center (‘Hotel’ or ‘Property’) in Richmond, Indiana. The Choice Hotels International-branded Hotel will be sold at auction on the Ten-X platform, please contact the listing agent for more information. The Quality Inn and Conference Center is a 134-room, four-story Hotel stationed at 5501 National Road, near the busy intersection of Interstate 70 and Highway 40. This Hotel features an indoor pool, exercise room, business center, guest laundry facilities, and over 5,000 square feet of meeting and event space. Richmond, Indiana is located in the east-central region of the state on the border shared with Ohio and is included in the Dayton, Ohio metropolitan area. The city is less than two hours from Indianapolis, Indiana, and Dayton and Cincinnati, Ohio. Tourism in the area is attributed to regional trails like the Heartland Wine and Ale Trail (3.8 miles), Chocolate Trail (0.2 miles), and the Murals Trail (0.2 miles). Other leisure demands include the Hayes Arboretum (1.3 miles), Hoosier Hill (15 miles), the Music Garden (2.7 miles), and the Model T Ford Museum (3.9 miles). During the trailing 12-months ending September 2021, the limited-service Hotel recorded room revenues of over $1.7 million and a net operating income above $632 thousand, or 36.9 percent as a percentage of total revenues, after a four percent capital replacement reserve. RevPAR has continued to steadily increase year-over-year, averaging over 18.5 percent from 2019 through September 2021. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR from better revenue management, not only benefiting from increased market share but also higher NOI flow-through.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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