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Candlewood Suites & Staybridge Suites Portfolio

18 & 36 Western Plaza Drive
Amarillo, TX 79109
PRICE : $23,000,000
PROPERTY TYPE: Hospitality
BUILDING SIZE: 146,653 SF

Highlights

  • Two investment-grade IHG properties
  • One block from each other
  • Upside potential for new management
  • STR indicates opportunity to improve occupancy
  • Thriving retail & restaurant location
  • Built in 2012 & 2013
  • Candlewood Suites Price/Key: $94,191
  • Staybridge Suites Price/Key: $143,894
  • Broker of Record: Randy Reid of Reid Peevey, TX License # 33073

Description

Opportunity to acquire two fee-simple extended stay hotels in a market with newly announced demand generators. The relatively new suite hotels, delivered in 2012 & 2013, provide stable income and offer a new operator strong upside potential.

The properties are one block apart for efficient operations.

Both investment-grade IHG properties are unencumbered by management and have been continually renovated and updated to IHG standards. It is anticipated the change of ownership PIP will be minimal.

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