- $1.3MM in renovations have been completed throughout 2015 and 2016, accordingly there is a manageable Change-of-Ownership Property Improvement Plan (PIP) expected for a new owner.
- The hotel has experienced RevPAR growth of approximately 47 percent during the three years ending May 2017.
- Significant upside for a hands-on owner/management team through execution of an effective revenue management program to help further control expenses and achieve fair share of market revenue.
- The hotel is being sold unencumbered by debt and management, allowing a new operator to implement more aggressive sales, marketing and revenue management techniques.
- Occupancy Rate 55,5%
- Year renovated 2006
- Rooms 200
Hodges Ward Elliott has been exclusively retained to offer for sale the fee simple interest in the 200-room Quality Inn & Suites Winter Park Village Area Orlando hotel located in Orlando, Florida. The Quality Inn & Suites is a limited service, interior corridor hotel conveniently located near a number of Orlando’s most popular attractions and entertainment destinations. The property consists of one five-story building located on one parcel, totaling nearly three acres. The hotel has excellent frontage on Lee Road/Florida State Road 423, a busy east-west road with exposure to a large number of vehicles. The Quality Inn & Suites is located directly off the Interstate 4 highway ramp, providing a direct route into downtown Orlando and surrounding attractions. Access to U.S. Highway 17, 441 and other major highways are within minutes of the hotel. The Quality Inn & Suites presents an investor with the opportunity to acquire an asset with significant upside potential in a highly desirable region.
The Property occupies a prime location adjacent to the major north-south traffic thoroughfare Interstate 4, which extends through the heart of Florida and the Orlando MSA. The Property is three miles from Rollins College and is proximate to the Orlando Science Center, Camping World Stadium, and Orlando Executive Airport. The Hotel is surrounded by numerous local eateries and is less than six miles from downtown Orlando, the fastest growing market in Florida.
Orlando is consistently named among the fastest growing U.S. cities by Forbes. With 2018 RevPAR of $93.08, the city continually outperforms other top 25 markets in RevPAR such as Phoenix ($85.39), Denver ($80.56), Tampa ($76.86), Atlanta ($70.92), and Dallas ($70.30), solidifying its position as one of the strongest and most stable lodging markets in the country.
DIVERSE DEMAND GENERATORS
Demand for the Property is derived from numerous industries with a diversified mix of education, tourism, corporate, and leisure drivers. Amongst the most significant demand generators for the Property include Orlando City Stadium, the Center of Winter Park, Rollins College, the Central Florida Research Park and numerous festivals hosted by the city. The economic mix of the Orlando region is diverse. The area boasts a multibillion dollar tourism industry, one of the Southeast’s most impressive emerging medical hubs, an established base of national and international corporations, and nationally acclaimed education institutions.
|Lot area||2.79 sqft|
- Air conditioning
- Cable TV
- Cleaning after exit
- Cofee pot