Marcus & Millichap is pleased to offer the opportunity to acquire the Travelodge located at 1939 Harper Rd, Beckley, WV. The hotel consists of 76 guest rooms which include 3 suites, bus/truck parking, business center, and in-suite jacuzzies. The property has recently undergone an extensive $400,000 renovation which includes all new FF&E, parking lot recovering, exterior paint, and a new roof.
The subject hotel based on its superior location and consistently strong room revenue generation is a top market performer of its class. The hotel is currently operating at an occupancy of 66.8%, an ADR of $54.72, and a RevPAR of $36.55 which is penetrating the market at an index of 98%. During the past twelve-month trailing period, the property is doing over $1,015,000 in revenues with an estimated NOI of $363k. Marcus & Millichap anticipates a significant opportunity to increase top line revenue through hands-on management, the current operator is located out of the region and is not primarily a hotel operator.
The property is situated directly off the major highway exit 44, which intersects both Interstate 64 and Interstate 77, resulting in an average daily traffic count of 45,000 vehicles per day. The hotel is within close proximity to many restaurant’s and bars including Wendy’s, McDonald’s, Chic-Fil-A, Dairy Queen, Outback Steakhouse, Bob Evans, Ruby Tuesdays, Pasquale’s Italian Restaurant, Compestre Mexican Restaurant, and The Char Steak & Seafood House. Other demand generators and leisure attractions that are located in the city of Beckley include the Tamarack Cultural Center (1.3 Miles), Raleigh General Hospital (1.4 Miles), Crossroads Mall (5 Miles), Glade Springs Resort (9.4 Miles), Winterplace Ski Resort (15 Miles), and the Summit Bechtel Reserve (15 Miles) which hosts an annual 30,000 attendee boy scout retreat over 10 days during the month of July, creating a large amount of demand for the hotel.
With a worldwide portfolio of over 1,700 properties, Days Inn is one of the largest economy brands worldwide. High brand awareness, prototype versatility, and a large footprint have fueled strong performance, making Days Inn a desired brand in the economy segment, with the added benefit of global distribution. The new Dawn room was designed with owner input to drive consistency and return. The well-known Days Inn name, supported by a powerful marketing budget, and bright room makes Days Inn top of mind for prospective guests and owners.