Hotel-Motel

Days Inn by Wyndham Farmville

Listing Price: $2,500,000

Cap Rate
1.34%
Number of Rooms
59
RevPAR
$27
Price/Room
$42,373
RRM
4.34
Year Built
1990

Investment Overview

The Days Inn by Wyndham in Farmville, VA. provides an excellent investment opportunity for an owner/operator to acquire an asset below replacement cost, under a well-respected brand, with tremendous revenue and NOI upside potential. The subject hotel generated revenues in excess of $900,000 (2017) when owner-managed, only to see revenue, operating margins and guest satisfaction scores decline as owner became absentee. A hands-on owner has the opportunity to immediately drive top-line revenues through both occupancy and adr increases. Dramatic NOI and cash flow gains can be realized by simply meeting industry averages for operating margins. Furthermore, an executed change of ownership PIP allows for property repositioning and provides even more upside in financial performance.

The Days Inn Farmville, situated on a 1.67 acre lot, is a 59 room (one room out-of-order can be returned to inventory, bringing key-count to 60), 2-story, interior/exterior-corridor hotel built in 1990. Property is located directly off of heavily trafficked S. Main Street (22,000 VPD) and US Routes 15 & 460 (8,600 VPD). Property has excellent street visibility which contributes to hotel benefitting from 20-25% of occupancy from same-day bookers.

The hotel is centrally located in Prince Edward County, 65 miles from Richmond, 48 miles from Lynchburg, 70 miles from Charlottesville and within a days drive of 76% of the nations population. Demand generators include 2 nearby universities, a high-quality medical services community, a vibrant shopping, dining and culture scene and a wealth of historical and recreational amenities.

Hotel amenities include outdoor pool , free breakfast, free wi-fi, free parking, RV parking, in-room coffee/tea makers, microwaves and refrigerators.

Investment Highlights

  • Absentee Ownership.
  • Significant Top / Bottom Line Upside for Owner-Operator.
  • Historical Revenues Support Pro Forma Expectations.
  • Change of Ownership PIP Allows for Property Repositioning.
  • Excellent Street Visibility
  • 50% of Inventory is Interior Corridor.

Exclusively Listed By

  • David Wiener

    Associate

    Email David

    License(s): VA: 0225232581

    Washington, D.C.

Hotel-Motel

Days Inn by Wyndham Farmville

Listing Price: $2,500,000

Cap Rate
1.34%
Number of Rooms
59
RevPAR
$27
Price/Room
$42,373
RRM
4.34
Year Built
1990

Investment Highlights

  • Absentee Ownership.
  • Significant Top / Bottom Line Upside for Owner-Operator.
  • Historical Revenues Support Pro Forma Expectations.
  • Change of Ownership PIP Allows for Property Repositioning.
  • Excellent Street Visibility
  • 50% of Inventory is Interior Corridor.

Investment Overview

The Days Inn by Wyndham in Farmville, VA. provides an excellent investment opportunity for an owner/operator to acquire an asset below replacement cost, under a well-respected brand, with tremendous revenue and NOI upside potential. The subject hotel generated revenues in excess of $900,000 (2017) when owner-managed, only to see revenue, operating margins and guest satisfaction scores decline as owner became absentee. A hands-on owner has the opportunity to immediately drive top-line revenues through both occupancy and adr increases. Dramatic NOI and cash flow gains can be realized by simply meeting industry averages for operating margins. Furthermore, an executed change of ownership PIP allows for property repositioning and provides even more upside in financial performance.

The Days Inn Farmville, situated on a 1.67 acre lot, is a 59 room (one room out-of-order can be returned to inventory, bringing key-count to 60), 2-story, interior/exterior-corridor hotel built in 1990. Property is located directly off of heavily trafficked S. Main Street (22,000 VPD) and US Routes 15 & 460 (8,600 VPD). Property has excellent street visibility which contributes to hotel benefitting from 20-25% of occupancy from same-day bookers.

The hotel is centrally located in Prince Edward County, 65 miles from Richmond, 48 miles from Lynchburg, 70 miles from Charlottesville and within a days drive of 76% of the nations population. Demand generators include 2 nearby universities, a high-quality medical services community, a vibrant shopping, dining and culture scene and a wealth of historical and recreational amenities.

Hotel amenities include outdoor pool , free breakfast, free wi-fi, free parking, RV parking, in-room coffee/tea makers, microwaves and refrigerators.

Exclusively Listed By

  • David Wiener

    Associate

    Email David

    License(s): VA: 0225232581

    Washington, D.C.

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