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Hotel-Motel

Holiday Inn Express & Suites Cleveland

808 N Davis Ave, Cleveland, MS 38732

Listing Price: Request For Offer

Number of Rooms
66
RevPAR
$77
Year Built
2003

Investment Overview

High Quality, Limited-Service Asset: The Holiday Inn Express is an upper-midscale InterContinental Hotels Group (IHG) -branded Hotel featuring 66 guestrooms throughout three stories. The Hotel features a fitness center, business center, outdoor pool, and meeting space. Prime Location: The Property is highly visible from Highway 61 (North Davis Ave), the busiest road in Cleveland by traffic count. This strategic location allows easy access to the key demand generators in the area such as Delta State University (2.5 miles), Dockery Farms (1.7 miles), The Grammy Museum-Mississippi (2.1 miles), and Bologna Performing Arts Center (2.4 miles). Market Penetration: As one of only two upper-midscale Hotels within the Cleveland city limits, a new investor can expect exceptional market penetration. In 2018 and 2019, the Holiday Inn Express recorded an average RevPAR penetration of 153 percent. Significant Top-Line Revenue: Boasting an average room revenue of over $1.925 million in 2018 and 2019, the Property is expected to continue to experience strong year-over-year Hotel revenues. InterContinental Hotels Group-Branded Asset: The Property maintains brand affiliation with InterContinental Hotels Group (IHG) and currently benefits from the IHG Rewards loyalty program, known for its strong brand recognition amongst travelers, owners, and franchisees. 16th Section Commercial Land Lease: The Holiday Inn Express & Suites is encumbered by a 16th Section Commercial Land Lease Agreement valid through December 31, 2070, with no annual payments. Please contact listing agent for more information.

Investment Highlights

  • Three-Story, 66-Room, Limited-Service Hotel Built in 2003
  • Ideal Location off Highway 61, Cleveland's Busiest Road by Traffic Count
  • One of Two Upper-Midscale Hotels in Cleveland, Mississippi
  • 2018 and 2019 RevPAR Penetration Index Average of 153 Percent
  • Significant Top Line Room Revenues Average over $1.925 Million in 2018 and 2019

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s) MS: 15586

    Mississippi

Hotel-Motel

Holiday Inn Express & Suites Cleveland

Listing Price: Request For Offer

Number of Rooms
66
RevPAR
$77
Year Built
2003

Investment Highlights

  • Three-Story, 66-Room, Limited-Service Hotel Built in 2003
  • Ideal Location off Highway 61, Cleveland's Busiest Road by Traffic Count
  • One of Two Upper-Midscale Hotels in Cleveland, Mississippi
  • 2018 and 2019 RevPAR Penetration Index Average of 153 Percent
  • Significant Top Line Room Revenues Average over $1.925 Million in 2018 and 2019

Investment Overview

High Quality, Limited-Service Asset: The Holiday Inn Express is an upper-midscale InterContinental Hotels Group (IHG) -branded Hotel featuring 66 guestrooms throughout three stories. The Hotel features a fitness center, business center, outdoor pool, and meeting space. Prime Location: The Property is highly visible from Highway 61 (North Davis Ave), the busiest road in Cleveland by traffic count. This strategic location allows easy access to the key demand generators in the area such as Delta State University (2.5 miles), Dockery Farms (1.7 miles), The Grammy Museum-Mississippi (2.1 miles), and Bologna Performing Arts Center (2.4 miles). Market Penetration: As one of only two upper-midscale Hotels within the Cleveland city limits, a new investor can expect exceptional market penetration. In 2018 and 2019, the Holiday Inn Express recorded an average RevPAR penetration of 153 percent. Significant Top-Line Revenue: Boasting an average room revenue of over $1.925 million in 2018 and 2019, the Property is expected to continue to experience strong year-over-year Hotel revenues. InterContinental Hotels Group-Branded Asset: The Property maintains brand affiliation with InterContinental Hotels Group (IHG) and currently benefits from the IHG Rewards loyalty program, known for its strong brand recognition amongst travelers, owners, and franchisees. 16th Section Commercial Land Lease: The Holiday Inn Express & Suites is encumbered by a 16th Section Commercial Land Lease Agreement valid through December 31, 2070, with no annual payments. Please contact listing agent for more information.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s): MS: 15586

    Mississippi

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