Hospitality Group

Hotel AG Lists Super 8 - South Boston, Virginia

Hotel Assets Group, LLC, as sole exclusive agent, is pleased to offer the fee - simple interest in the Super 8 (collectively known as the “Property,” or “Hotel”), a limited service hotel located in South Boston, Virginia.

The Property is a 58-room, limited service hotel located off Highway 58/360 and Highway 501 in South Boston, Virginia; 74 miles north of Raleigh, North Carolina and 114 miles southwest of Richmond, Virginia. The Property is conveniently located near several local area businesses such as Novec Energy Power Plant, Virginia International Raceway, South Boston Speedway, Dollar General Distribution Center, ABB Inc., Werner Enterprise, Estes Express Lines and Dominion Power. The city of South Boston has shopping and a variety of restaurants that are located in the surrounding area.

The Property is a two-story, interior corridor, limited service hotel originally constructed in 1989 as a Super 8. The Hotel contains a lobby area, free 8-item SuperStart breakfast, HBO and free Wi-Fi for all guests. T he Property is within walking distance to several restaurants including national fast food franchises and locally owned dining at the Bistro 1888 and Café Peroni. The Property offers standard Super amenities including work desk and flat screen televisions.

Property Highlights

  • 2.8 times Actual Rooms Revenue Trailing 12 months February 2015
  • Pre-Approved Bank Financing 
  • 20% Down Payment 
  • 58 Rooms
  • Interior corridor
  • Strong positive trend per STAR report
  • Positive Cash Flow
  • Full renovation recently completed
  • $851,814 Rooms Revenue Actual Trailing 12 months February 2015
  • $390,453 Net Operating Income Actual Trailing 12 months February 2015
  • 25% increase in occupancy Year End 2014 vs. 2013
  • 20% increase in Average Daily Rate Year End 2014 vs. 2013
  • 50% increase in RevPAR Year End 2014 vs. 2013
  • $37,844 price per room
  • $30,000 below replacement cost
  • $67.92 Average Daily Rate Trailing 3 months

To learn more, please contact Tom Huegel at thuegel@hotelassetsgroup.com or 770-692-1605.

 

published: 03-24-2015

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