Hospitality Group

Hotel AG Lists 9-Property Select Service Portfolio

Hotel Assets Group has been exclusively retained to market the 9-Property JDSK Portfolio. Consisting of 632 rooms with an average age of just under 5 years old, the portfolio includes the following assets.

  • 63-room Hampton Inn - Chickasha, OK (opened 2013)
  • 87-room Holiday Inn Express & Suites - Dubuque, IA (2009)
  • 69-room Holiday Inn Express & Suites - Mattoon, IL (2008)
  • 69-room Holiday Inn Express & Suites - Jacksonville, IL (2007)
  • 69-room Holiday Inn Express & Suites - Bethany, OK (2007)
  • 62-room Holiday Inn Express & Suites - Chickasha, OK (2005)
  • 77-room Country Inn & Suites - Norman, OK (2007)
  • 68-room Holiday Inn Express & Suites - Emporia, KS (opened Jan 2014)
  • 68-room Holiday Inn Express & Suites - Nevada, MO (opened Nov 2014)

For the trailing twelve month period ending August 30, 2014 (including Year 1 pro forma numbers for the Nevada and Emporia properties), the portfolio ran 74.2% Occupancy at a 92.20 Average Daily Rate, resulting in 16,000,010 Total Revenue and a 5,693,258 Net Operating Income.  The Holiday Inn Express & Suites Emporia, KS has performed exceptionally well in its first seven months of operations, and is on track to exceed the Yr. 1 budget numbers. The Holiday Inn Express & Suites Nevada, MO opened its doors this past week and is expected to ramp up similarly to the Emporia property. The portfolio is being offered at $59,500,000 which equates to a 9.6 capitalization rate on the aforementioned NOI, at less than $95,000 per key. The expected change of ownership PIP is expected to be around $3,125,000 for the entire portfolio. If you are interested in receiving more information on the portfolio, please click the confidentiality link below. If you have any questions or comments, please contact Michael Bernath (MBernath@HotelAssetsGroup.com) or H. Keith Thompson (KeithThompson@HotelAssetsGroup.com).

For more information please click on the link below for the confidentiality agreement.
Confidentiality Agreement.

published: 11-24-2014

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