Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the Country Inn & Suites by Carlson hotel located in Matthews, North Carolina. The hotel is located in the Charlotte, North Carolina metropolitan area, only 12.8 miles from Charlotte Center City and 21.6 miles from Charlotte Douglas International Airport. The hotel is located in a diverse market with numerous demand generators including the headquarters of seven Fortune 500 Companies located only minutes away. Additionally, the property presents an investor with the opportunity to acquire a stabilized asset in a proven market, for a price significantly below replacement cost.
Opportunity to Acquire a Stabilized Asset in a Growing Market: For the 12 months ending April 2019, the Country Inn & Suites by Radisson yielded an 72.1 percent occupancy, $79.06 ADR and $57.03 RevPAR, while the competitive set for this hotel achieved a 71.5 percent occupancy, $81.34 ADR and $58.12 RevPAR. The Country Inn & Suites by Radisson had a 101.9 percent occupancy penetration index, 97.2 percent ADR penetration index and 98.1 percent RevPAR penetration index. A hands-on owner/management team will be able to further control expense to achieve full market share in terms of ADR, occupancy and RevPAR.
High-Barriers-to-Entry, Below Replacement Cost Investment Opportunity: Given the increased cost of capital and high cost of new development, the property offers an attractive discount to replacement cost.
Diverse Business Generators: The Country Inn & Suites by Radisson benefits from its central location in Matthews, North Carolina, which is minutes away from the region’s top business generators including the corporate headquarters of Harris Teeter, Novant Health Matthews Medical Center, Family Dollar corporate headquarters and distribution center, Mecklenburg County Sportsplex and others.
Excellent Accessibility and Visibility: The Country Inn & Suites by Radisson is located directly off Interstate 485 and U.S. Route 74 (East Independence Boulevard), fiving the property prime exposure with daily traffic counts in excess of 58,000.
Strong Brand Recognition: Country Inn & Suites by Radisson is a sought-after, internationally-recognized hotel brand by travelers and hotel owners alike. Radisson currently franchises over 1,370 hotels worldwide with more than 470 of those locations boasting the Country Inn & Suites flag.