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Hotel-Motel

Holiday Inn Little Rock West - Chenal Parkway

10920 Financial Centre Pkwy, Little Rock, AR 72211

Listing Price: Request For Offer

Number of Rooms
119
RevPAR
$26
Year Built
1991

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 Holiday Inn Little Rock West – Chenal Parkway in Little Rock, Arkansas (‘Hotel’ or ‘Property’). The IHG branded Hotel will be offered on the Ten-X platform; for more information, contact the listing agent. The Holiday Inn Little Rock West - Chenal Parkway is a 119-room, three-story, full-service, interior corridor Hotel. Built in 1991, renovated in 2012, the smoke-free upper-midscale Hotel offers many common area and guest room amenities. The spacious guest rooms come well-equipped with a wet bar, microwave, refrigerator, work desk, iPod docking station, sitting area, a pillow menu, and a 50-inch flat-screen IHG approved television that includes premium channels. The Hotel’s common area amenities include an outdoor pool, 24-hour fitness center, 24-hour business center with computer station, two meeting rooms, rentable conference spaces ranging from 400 to 1440 square feet, a snack deli, bar and lounge area, on-site restaurant, cooked-to-order breakfast, and televisions throughout the Hotel. Little Rock, Arkansas is the state’s capital and is located in Pulaski County. The Holiday Inn Little Rock West - Chenal Parkway is positioned on Financial Centre Parkway just off Interstate 630 and 430. The Hotel is located near many popular revenue demand generators and major employers. Revenue generators in the area consist of a multitude of shopping centers that include the Rock Creek Square Plaza Shopping Center (1.4 miles), The Trellis Square Shopping Center (2.1 miles), Valley Village Shopping Center (2.2 miles), and the Park Place Mall (3.6 miles). Other revenue generators consist of the Little Rock Zoo (4 miles), Arkansas State Fair Area (7.1 miles), The Big Dam Bridge (7.1 miles), Wild River Country Waterpark (7.4 miles), the Verizon Arena (9.4 miles), and the Arkansas Inland Maritime Museum (9.7 miles). The property is located within the major financial district of Little Rock, with businesses such as FIS, Bank of America, U.S. Bank, and Regions Financial having offices in the area. Also, the city’s major employers have locations in close proximity to the property include Baptist Health (1.4 miles), Entergy Arkansas (1.5 miles), the University of Arkansas for Medical Sciences (4.2 miles), Arkansas Children’s Hospital (6.1 miles), and the Little Rock Air Force Base (25 miles). In 2019, the Hotel recorded room revenues of over $1.415 million and a net operating income of $212 thousand, or 15 percent as a percentage of total revenues, after a 4 percent FF&E reserve and a 3 percent management fee. Trailing Twelve Months November 2021 revenues have increased significantly from year-end 2020, showing a growth of over 58 percent, which equates to $1.14 million. This offering presents a potential buyer the opportunity to acquire an asset, with upward trending RevPAR, at an expected price below replacement cost.

Investment Highlights

  • Three-Story, 119-Room, InterContinental Hotels-Branded Hotel
  • Well-Equipped with Common Area and Guest Room Amenities
  • Expected to Trade Below Replacement Cost
  • High Visibility and Easy Access from Interstate 630 and Interstate 430
  • Upward Trending RevPAR Through the TTM November 2021 with Potential to Capture Market Share

Exclusively Listed By

Broker of Record

  • Anne Williams

    First Vice President Investments

    (901) 620-3600

    License(s) AR: PB00066390

    Arkansas

Hotel-Motel

Holiday Inn Little Rock West - Chenal Parkway

Listing Price: Request For Offer

Number of Rooms
119
RevPAR
$26
Year Built
1991

Investment Highlights

  • Three-Story, 119-Room, InterContinental Hotels-Branded Hotel
  • Well-Equipped with Common Area and Guest Room Amenities
  • Expected to Trade Below Replacement Cost
  • High Visibility and Easy Access from Interstate 630 and Interstate 430
  • Upward Trending RevPAR Through the TTM November 2021 with Potential to Capture Market Share

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 Holiday Inn Little Rock West – Chenal Parkway in Little Rock, Arkansas (‘Hotel’ or ‘Property’). The IHG branded Hotel will be offered on the Ten-X platform; for more information, contact the listing agent. The Holiday Inn Little Rock West - Chenal Parkway is a 119-room, three-story, full-service, interior corridor Hotel. Built in 1991, renovated in 2012, the smoke-free upper-midscale Hotel offers many common area and guest room amenities. The spacious guest rooms come well-equipped with a wet bar, microwave, refrigerator, work desk, iPod docking station, sitting area, a pillow menu, and a 50-inch flat-screen IHG approved television that includes premium channels. The Hotel’s common area amenities include an outdoor pool, 24-hour fitness center, 24-hour business center with computer station, two meeting rooms, rentable conference spaces ranging from 400 to 1440 square feet, a snack deli, bar and lounge area, on-site restaurant, cooked-to-order breakfast, and televisions throughout the Hotel. Little Rock, Arkansas is the state’s capital and is located in Pulaski County. The Holiday Inn Little Rock West - Chenal Parkway is positioned on Financial Centre Parkway just off Interstate 630 and 430. The Hotel is located near many popular revenue demand generators and major employers. Revenue generators in the area consist of a multitude of shopping centers that include the Rock Creek Square Plaza Shopping Center (1.4 miles), The Trellis Square Shopping Center (2.1 miles), Valley Village Shopping Center (2.2 miles), and the Park Place Mall (3.6 miles). Other revenue generators consist of the Little Rock Zoo (4 miles), Arkansas State Fair Area (7.1 miles), The Big Dam Bridge (7.1 miles), Wild River Country Waterpark (7.4 miles), the Verizon Arena (9.4 miles), and the Arkansas Inland Maritime Museum (9.7 miles). The property is located within the major financial district of Little Rock, with businesses such as FIS, Bank of America, U.S. Bank, and Regions Financial having offices in the area. Also, the city’s major employers have locations in close proximity to the property include Baptist Health (1.4 miles), Entergy Arkansas (1.5 miles), the University of Arkansas for Medical Sciences (4.2 miles), Arkansas Children’s Hospital (6.1 miles), and the Little Rock Air Force Base (25 miles). In 2019, the Hotel recorded room revenues of over $1.415 million and a net operating income of $212 thousand, or 15 percent as a percentage of total revenues, after a 4 percent FF&E reserve and a 3 percent management fee. Trailing Twelve Months November 2021 revenues have increased significantly from year-end 2020, showing a growth of over 58 percent, which equates to $1.14 million. This offering presents a potential buyer the opportunity to acquire an asset, with upward trending RevPAR, at an expected price below replacement cost.

Exclusively Listed By

Broker of Record

  • Anne Williams

    First Vice President Investments

    (901) 620-3600

    License(s): AR: PB00066390

    Arkansas

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