Marcus & Millichap is pleased to exclusively offer the opportunity to acquire the Econo Lodge Inn & Suites located at 5335 University Parkway in Natchitoches, Louisiana. The subject hotel is conveniently located off Interstate-49 which extends and connects Texarkana, Arkansas to Lafayette, Louisiana. Other segments of this interstate are currently under construction and when finished will connect from Kansas City to New Orleans. The subject property originally opened in 1999 and is an economy hotel situated on approximately 2.2 acres. This 3-story interior-corridor hotel consists of 72 well appointed guest rooms and offers amenities such as a seasonal outdoor pool and a continental breakfast, among others.
In 2018 the Econo Lodge was able to generate nearly $800,000 in revenue, which was a slight decline from the prior year primarily due to ongoing renovations and change of ownership. 2019 revenues for the Econo Lodge have been steadily increasing month over month compared to the previous year and as of August was up over $170,000 in comparison to the same period of 2018. As of the September 2019 STR report, the Econo Lodge was operating with an occupancy percentage of 59.2%, an ADR of $64.87, and a RevPAR of $37.40. The Econo Lodge is capturing 138.6% of the competitive market share and is considered a top performer in the market segment.
The Econo Lodge Inn & Suites of Natchitoches is located near all major demand generators including Natchitoches Regional Airport, Front Street, Fort St. Jean Baptiste, and the Louisiana Sports Hall of Fame Museum. Natchitoches Regional Medical Center is only 5 miles away and serves Natchitoches, Winn, and Sabine parishes (counties). Natchitoches is currently in the running for “Best Historic Small Town” by USA Today and you can visit many of its historical sites within a short drive of the hotel. Corporations like Alliance Compressors, Pilgrim’ Pride Corporation, International Paper Company, and Tennessee Gas are all based nearby.
Northwestern State University brings guests to the hotel year-round and is located under 5 miles away. The University hosts a number of athletic events throughout the year which draw large crowds of people from around the region. A new sports park named Parc Natchitoches, slated to open in 2020, is being built 2 miles away and sports teams have already began making reservations at the Econo Lodge.