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HOTEL: Courtyard Marriott 98 Room Value Add Hotel - [OFF-MARKET]

Updated: 5 days ago

Commercial Real Estate: Hotel


Price Available Upon Request


Full Financials, Plans, Franchise Agreements, Etc. Available with Signed NDA


Real Estate Investment Opportunity Overview

This Courtyard Marriott Hotel investment opportunity in West Tennessee presents a lucrative option for seasoned hotel investors. With a solid foundation and the potential for value enhancement through renovation, this property promises attractive returns.


Property Overview:

  • Market: West Tennessee

  • Franchise Type: Courtyard Marriott

  • Size: 98 guest rooms

  • Establishment Year: 1998

  • Franchise: The franchise agreement is transferable to new ownership.


Investment Highlights:

Acquisition Cost: Available Upon Request

  • Renovation Projection: $2,500,000 to modernize facilities

  • Post-renovation Exit Value: Estimated at $14,000,000

  • Projected Average Daily Rate (Post-Renovation): $143


Financial Performance:

September 2023 (Month Captured):

  • Average Daily Rate: $93.40

  • Revenue per Available Room (RevPAR): $46.43

  • Total Revenues: $138,874, led by room revenues.

Year-To-Date:

  • Average Daily Rate: $101.55

  • Revenue per Available Room (RevPAR): $59.45

  • Total Revenues: $831,629, showing a substantial contribution from room sales.

  • Total Expenses: $336,303 in departmental and $386,461 in house expenses, with a net result of a positive Net Cash Flow of $185,585.


Investment Highlights:

  1. Attractive Acquisition Cost: Acquire this property in its current as-is condition for $8,400,000. The acquisition cost provides a strong foundation for an excellent investment opportunity.

  2. Renovation Potential: Invest an estimated $2,500,000 to modernize the facilities and elevate the guest experience. This renovation will position the property for higher post-renovation profitability.

  3. Promising Post-Renovation Exit Value: Anticipate a significant boost in the property's value, estimated at $14,000,000, after completing the renovation.

  4. Strong Projected Average Daily Rate (ADR): Post-renovation, expect an ADR of $143, indicating the property's potential to command competitive room rates.

Financial Performance:

  • September 2023 Performance: In September 2023, the property achieved an ADR of $93.40 and a RevPAR of $46.43, contributing to total revenues of $138,874, primarily driven by room sales.

  • Year-To-Date Performance: Year-to-date figures show an even more promising outlook. The ADR stands at $101.55, with a RevPAR of $59.45. Total revenues for the year amount to $831,629, highlighting the substantial contribution from room sales.

  • Positive Net Cash Flow: Despite expenses totaling $336,303 in departmental and $386,461 in house expenses, the property boasts a positive Net Cash Flow of $185,585, demonstrating its financial stability.







Harvest River Partners

Eric Brinson

Principal

Mobile: 615-987-7897


*Note* You DO NOT have permission to market this property in anyway to anyone on any social media platforms, email, or direct to someone you know. You DO NOT have permission to mark up the property for your profit. If you know someone who may want to invest with us on this property contact ericb@harvestriverpartners.com directly to discuss. This is an off-market investment opportunity.


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