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Hotel-Motel

Holiday Inn Express & Suites Elgin

258 US-290, Elgin, TX 78621

Listing Price: $7,750,000

Number of Rooms
58
RevPAR
$76
Gross SF
36,451
Price/Room
$133,621
Price/Gross SF
$212.61
Year Built
2002

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Holiday Inn Express & Suites Elgin, a three-story limited service hotel conveniently located off of U.S. Highway 290 in Elgin, Texas. The hotel consists of 58 guest rooms and offers amenities including an outdoor pool & spa, business center, fitness center, spacious lobby/great room, guest laundry facilities and complimentary breakfast. Elgin is located approximately 25 minutes from Downtown Austin, Austin-Bergstrom International Airport and several of the area’s major attractions. The Austin MSA is home to several large tech companies, with many more considering locating operations and/or manufacturing facilities there. The market also benefits from an explosion of growth, both commercial and residential, the significant employment opportunities that it creates and the population growth that has resulted. The Holiday Inn Express & Suites Elgin represents the opportunity to acquire a franchised hotel in a strong market with several demand drivers. Although the Austin MSA was not affected by Covid as significantly as many other areas, our Pro Forma analysis assumes full market recovery to pre-pandemic levels from the beginning with continued modest growth supported by the factors noted above.

Investment Highlights

  • Fully Renovated in 2019
  • Well-Performing Property: Current Revenues Higher than Pre-Pandemic
  • Growing Film Industry Demand in the Area
  • 20 Miles to Giga Texas, Tesla's New Factory and Headquarters
  • ~20 Miles to the Newly Announced $17B Samsung Chip Plant Development
  • Nearby Attractions Include Elgin Depot Museum, J. Lorraine Ghost Town & Sherwood Forest Faire
  • Conveniently Located Off of U.S. Route 290
  • Located Within the Austin MSA | Significant Tech Demand, Employment Growth & Population Growth

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Hotel-Motel

Holiday Inn Express & Suites Elgin

Listing Price: $7,750,000

Number of Rooms
58
RevPAR
$76
Gross SF
36,451
Price/Room
$133,621
Price/Gross SF
$212.61
Year Built
2002

Investment Highlights

  • Fully Renovated in 2019
  • Well-Performing Property: Current Revenues Higher than Pre-Pandemic
  • Growing Film Industry Demand in the Area
  • 20 Miles to Giga Texas, Tesla's New Factory and Headquarters
  • ~20 Miles to the Newly Announced $17B Samsung Chip Plant Development
  • Nearby Attractions Include Elgin Depot Museum, J. Lorraine Ghost Town & Sherwood Forest Faire
  • Conveniently Located Off of U.S. Route 290
  • Located Within the Austin MSA | Significant Tech Demand, Employment Growth & Population Growth

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Holiday Inn Express & Suites Elgin, a three-story limited service hotel conveniently located off of U.S. Highway 290 in Elgin, Texas. The hotel consists of 58 guest rooms and offers amenities including an outdoor pool & spa, business center, fitness center, spacious lobby/great room, guest laundry facilities and complimentary breakfast. Elgin is located approximately 25 minutes from Downtown Austin, Austin-Bergstrom International Airport and several of the area’s major attractions. The Austin MSA is home to several large tech companies, with many more considering locating operations and/or manufacturing facilities there. The market also benefits from an explosion of growth, both commercial and residential, the significant employment opportunities that it creates and the population growth that has resulted. The Holiday Inn Express & Suites Elgin represents the opportunity to acquire a franchised hotel in a strong market with several demand drivers. Although the Austin MSA was not affected by Covid as significantly as many other areas, our Pro Forma analysis assumes full market recovery to pre-pandemic levels from the beginning with continued modest growth supported by the factors noted above.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

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