Hospitality Group

Auction: Nov 16-18 - SpringHill Suites Overland Park

front exterior of SpringHill Suites Overland Park

Auction for SpringHill Suites Overland Park located in Overland Park, KS is scheduled for Nov 16 - Nov 18, 2020.

Avison Young is pleased to present in the following pages a comprehensive valuation of the Spring Hill Suites Kansas City Overland Park (hereinafter "Property" or "Hotel"), an extended stay hotel located in Overland Park Kansas. The Property is located 14 miles from downtown Kansas City and easily accessible via Interstate 435. The Hotel is located near tourist attractions such as The Nelson-Atkins Museum of Art, the National WWI Museum and Memorial, and the Kansas City Convention Center. The Property is a short drive from Kauffman Stadium and Arrowhead Stadium, MLB Royals and the NFL Chiefs. Other attractions include Oak Park Mall, Sprint World Campus, the Riverboat Casinos, Scheels Overland Park Soccer Complex and the Kansas Speedway. Area businesses near the Property include Black & Veatch, YRCW, Verizon Regional Headquarters, and the Sprint Campus.

The Property is a four-story, interior corridor hotel which opened in 1998. The Hotel has a breakfast and reception area, business center, expanded fitness room, patio, 24-hour market, guest laundry, indoor pool, and hotel wide Wi-Fi Internet access. The Property offers 102 non-smoking guestrooms with separate sleeping, eating, and work areas including a mini-refrigerator, microwave, wet bar, and coffee maker. Guestrooms include 37 inch flat-screen HD televisions, HBO, a work desk, ergonomic task chair, and high-speed internet access. Provided in all guestrooms are Marriott deluxe amenities.

 

Property Highlights:

  • The property was closed on 3/21 due to Covid and remains closed
  • 102 Key Marriott select service property constructed in 1998
  • Excellent visibility and accessibility from the main thoroughfare and within close proximity to many area businesses, restaurants, and retail
  • Property is being sold unencumbered of management
  • The opportunity for a new buyer exists to renovate the hotel to current brand design standards and retain the Springhill Suites affiliation with Marriott
  • Historically, the property has performed well with occupancy consistently in the mid-70% range and average daily rates over $100
  • Historical property revenues have consistently ranged from $2.8m - $2.9m

 

For more information on this listing, contact:

Joe Jones
joe.jones[email protected]
770-682-1605
or
Brad Sinclair
[email protected]
678-522-5000
or
Michael Bernath
[email protected]
404-916-6145

published: 10-07-2020

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