Register now for this distinctive alternative to accumulate belongings in key hospitality markets.
An public sale of lodge properties in Indiana, San Antonio, TX, Memphis, TN, and Merrillville, IN, is scheduled to start out on December ninth. Potential bidders are inspired to register now to accumulate belongings in these key hospitality markets.
In San Antonio, two lender-owned properties are up for public sale. The Courtyard by Marriott, a 78-room lodge, presents a possibility for repositioning with a number of sturdy model choices. The San Antonio Airport’s REVPAR is up 2 %, making this an interesting alternative for owner-operators. The second property, the Fairfield Inn and Suites, is underperforming in comparison with its opponents, working at simply 77 % of the REVPAR Index, in keeping with the September 2024 STR Report. Each properties are positioned close to the San Antonio Airport, which noticed over 10 million passengers in 2023 and is anticipated to see continued development with the addition of three new airways—JetBlue, Spirit, and Viva Aerobus.
In Merrillville, Indiana, a 176-room portfolio can be auctioned on December eleventh by way of Crexi. The portfolio contains the 112-room Fairfield Inn & Suites and the 64-room Hampton Inn. Each properties are lender-owned, unencumbered by debt and administration, and provide potential buyers the prospect to accumulate a core Marriott- or Hilton-branded asset, respectively. These accommodations are strategically positioned within the US Freeway 30 Merrillville business hall and are readily accessible to a mean of 60,000 passing autos each day.
The 230-room Crowne Plaza Memphis Downtown can also be up for public sale. The lodge is presently underneath receivership and is ideally positioned close to the Renasant Conference Middle and the Cannon Middle for the Performing Arts. Additionally it is solely a mile away from the well-known Beale Road. Nevertheless, as of September 2024, the lodge has underperformed in RevPAR, rating seventh out of 8. The Lodge’s RevPAR has additionally dropped 17% year-over-year, highlighting the necessity for guestroom renovation and new administration. This presents a big value-add alternative for potential patrons to enhance efficiency by way of a strategic renovation and an aggressive gross sales and advertising marketing campaign.
For extra info and to register for the public sale, go to Crexi.
