Holiday Inn Express Burlington

  • Pricing Guidance
    $9,500,000
  • Room Count
    116
  • Approximate Revenue (2021)
    $2.52MM
  • Approximate NOI (2021
    $933k
  • Year Built
    1990
  • Property Type
    Select Service
  • Acreage
    2.84
  • Construction Type
    Block and Plank

Marcus & Millichap is pleased to offer the opportunity to acquire the Holiday Inn Express located in Burlington, North Carolina. The subject property is 4 story hotel consisting of 116 well-appointed guest rooms. The Holiday Inn Express is located within 4 miles of Elon University, which enrolls over 6,000 students annually. The subject is well positioned off Interstate-40 and experiences an extremely high traffic count in excess of 85,000 vehicles per day. Burlington is the midway point connecting multiple major metro areas including Raleigh, Greensboro and Durham.

The Holiday Inn Express has strong historical revenues exceeding $2,650,000 with a net operating income of nearly $915,000. The Burlington market has experienced strong RevPAR growth over the past year and was up 8% over 2017 according to the December 2018 STR. During the past 3 months current ownership has experienced an additional 10.9% increase in RevPAR. Marcus & Millichap predicts a new investor should expect stabilized revenues to exceed $3,000,000 after the completion of the Formula Blue PIP, which is currently in process. The Holiday Inn Express currently achieves a $63.58 RevPAR compared to the competitive set RevPAR of $73.19.

Burlington, North Carolina is part of the Greensboro-Winston-Salem-High Point MSA. The population exceeded 50,000 in the 2010 census and has grown dramatically over the past 8 years. The total Metropolitan Statistical Area population exceeds 350,000 and the subject hotel benefits from its prime location off I-40 with convenient access to the regions major airports and universities. Burlington’s primary demand generator, Elon University, has been named one of the fastest growing and most beautiful college campuses in the United States by “Best College Review”. Burlington is located near multiple international airports including the Raleigh international Airport, which is 48 miles away from the subject property and Piedmont-Triad International Airport, located less than 40 miles away. Subject property is located within 20 miles of Interstate-85 and 30 miles from Interstate-75. Burlington is also the midway point between the beach and mountain regions of North Carolina and is a popular stopping point for both travelers and locals.

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Contact Agent

agent

Jack Davis

First Vice President - Hospitality Division

151 Meeting Street
Suite 450
Charleston, SC 29401

843-952-2253

jack.davis@marcusmillichap.com

contact agent

    Contact Agent

    agent

    Joce Messinger

    First Vice President - Hospitality Division

    151 Meeting Street
    Suite 450
    Charleston, SC 29401

    843-952-2255

    joce.messinger@marcusmillichap.com

    contact agent