Exclusive Listing

Holiday Inn Express-Lakeland , FL

OFFERING MEMORUNDUM

Property Description

Property Highlights

  • Address :  1400 College AVe Lakeland FL
  • Year built:     2008
  • Rooms:          87
  • Ownership:   Fee Simple
  • Amenity 1:     Outdoor Swimming Pool
  • Amenity 2:     Fitness Center
  • Amenity 3:     Meeting Room
  • Amenity 4:     Business Center

Property Overview

Guest Rooms

The Holiday Inn Express Lakeland consists of 87 rooms and suites. all guestrooms are furnished with modern decor and comfortable amenities. All rooms feature large tvs, fridge & Microwaves, high speed internet, 

Additional Amenities

The Holiday Inn Express Lakeland has an onsite fitness center, which offers guest 24/7 access to the Gym equipment. In addition there is an outdoor swimming pool with Jacuzzi for guests convenience, as well as large meeting room. 

Dining

The hotel offers free continental breakfast in the morning, however, there is plenty of dining choices within the immediate area. Guests can dine at many nearby sit in restaurants, as well as fast food chains. Starbucks is nearby as well.

Location Overview

The Holiday Inn Express is located off I 4 on exit 33 between Tampa and Orlando.  the hotel is within close proximity to major demand generations such as Lakeland Regional Hospital, Publix corporate and many others like major auto dealerships along the I 4 corridor.

The Franchise affiliation

The Holiday Inn Express is one of the most successful brands in the IHG Group of hotels, with over 2800 hotels worldwide and 300,000 rooms. IHG features a strong loyalty program with over 100 million members. it’s considered the first and largest guest loyalty program in the hotel industry.

Property Location

Holiday Inn Express

Property Photos

Financial Overview

INVESTMENT CONSIDERATION
  • The Holiday Inn Express is sold unencumbered of any management agreement.
  • The franchise agreement has 15 years remaining and will be extended to the new investors.
  • Upon change of ownership, It is anticipated that IHG will require the new ownership to complete the new improvement property plan. The new PIP contains the formula blue program which will require complete change of furniture and any required modifications to the property according to the formula blue requirements.
  • The new ownership is responsible for all renovations and repairs .
  • There is no assumable loan in place, therefore, new ownership will be required to obtain new financing for the acquisition.
a-perfect-area-for-dining

Pricing

  • Price
  • Price /Room
  • # Rooms
  • 2019Room Revenue
  • 2021 Room Revenue
  • 2019 Cap Rate
  • 2021 Cap Rate
  • 2019 NOI
  • 2021 NOI
  • Room Rev Multiplier

Summary

  • $10,800,000
  • $124,000
  • 87
  • $2,600,000
  • $2,400,000
  • 9.5 %
  • 9%
  •  $1,000,000
  • $965,000
  • 4.5 x

Subject & Competitive Set Historical Performance

ADR

Occupancy

RevPar

Period Subject Comp Set Index Subject Comp Set Index Subject Comp Set Index
39
38
37
36
35
34
33
32
31
30
29
28
27
26
25
24
23
22
21
13
15
16
17
20
16
15
14
10
13
12
1
2
3
4
5
6
8
9
7
10

Data Section

Profit and Loss 2019

Profit and Loss 2017

Profit and Loss 2018

Profit and Loss 2021

STR Report 2021